Xcel Wealth Management LLC Has $2.20 Million Holdings in CVS Health Co. (NYSE:CVS)

Xcel Wealth Management LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,140 shares of the pharmacy operator’s stock after buying an additional 222 shares during the quarter. Xcel Wealth Management LLC’s holdings in CVS Health were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. United Bank lifted its holdings in CVS Health by 25.1% in the 2nd quarter. United Bank now owns 11,731 shares of the pharmacy operator’s stock worth $762,000 after buying an additional 2,353 shares during the period. PNC Financial Services Group Inc. raised its position in shares of CVS Health by 2.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,124,772 shares of the pharmacy operator’s stock worth $138,049,000 after purchasing an additional 53,819 shares during the period. Advisors Capital Management LLC grew its position in CVS Health by 8.7% in the 2nd quarter. Advisors Capital Management LLC now owns 5,203 shares of the pharmacy operator’s stock valued at $338,000 after purchasing an additional 418 shares during the period. Orion Portfolio Solutions LLC increased its stake in CVS Health by 47.4% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 5,042 shares of the pharmacy operator’s stock valued at $328,000 after purchasing an additional 1,621 shares in the last quarter. Finally, RMR Wealth Builders acquired a new position in CVS Health during the second quarter worth $88,000. Hedge funds and other institutional investors own 74.21% of the company’s stock.

CVS Health stock traded down $1.60 during midday trading on Wednesday, reaching $74.66. The stock had a trading volume of 115,015 shares, compared to its average volume of 8,717,626. The firm has a market capitalization of $97.72 billion, a PE ratio of 12.60, a P/E/G ratio of 1.69 and a beta of 0.82. CVS Health Co. has a 12 month low of $52.04 and a 12 month high of $77.23. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $70.40 and its 200 day moving average price is $64.26.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The company had revenue of $67.05 billion for the quarter, compared to analyst estimates of $66.54 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 7.43 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, January 21st. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of CVS Health stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $70.00, for a total transaction of $499,660.00. Following the completion of the transaction, the executive vice president now owns 8,023 shares of the company’s stock, valued at approximately $561,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Several equities research analysts have recently commented on CVS shares. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 11th. Jefferies Financial Group raised CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, January 8th. Cantor Fitzgerald restated an “overweight” rating on shares of CVS Health in a report on Monday, November 9th. BidaskClub upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.93.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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