Luts & Greenleigh Group Inc. Takes $441,000 Position in CVS Health Co. (NYSE:CVS)

Luts & Greenleigh Group Inc. acquired a new stake in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,590 shares of the pharmacy operator’s stock, valued at approximately $441,000.

Several other institutional investors have also modified their holdings of CVS. Cantor Fitzgerald Investment Advisor L.P lifted its stake in shares of CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock valued at $38,245,000 after purchasing an additional 181,966 shares during the last quarter. United Bank raised its holdings in shares of CVS Health by 7.2% in the first quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after buying an additional 1,260 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of CVS Health by 4,063.8% in the first quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after buying an additional 11,785 shares during the period. Zions Bancorporation N.A. raised its holdings in shares of CVS Health by 116.9% in the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock worth $260,000 after buying an additional 1,386 shares during the period. Finally, Ergoteles LLC purchased a new stake in shares of CVS Health in the first quarter worth approximately $1,551,000. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Royal Bank of Canada reduced their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday. Piper Sandler raised their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, HSBC began coverage on CVS Health in a report on Friday, December 22nd. They set a “buy” rating and a $94.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Price Performance

Shares of CVS Health stock traded down $1.41 on Thursday, hitting $69.74. The company’s stock had a trading volume of 10,417,697 shares, compared to its average volume of 11,062,498. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The firm has a fifty day moving average price of $76.02 and a 200-day moving average price of $73.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a market capitalization of $87.91 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.