Archer Investment Corp Buys 2,730 Shares of CVS Health Co. (NYSE:CVS)

Archer Investment Corp grew its stake in CVS Health Co. (NYSE:CVS) by 7.2% in the 4th quarter, Holdings Channel reports. The firm owned 40,808 shares of the pharmacy operator’s stock after purchasing an additional 2,730 shares during the period. CVS Health makes up about 1.0% of Archer Investment Corp’s portfolio, making the stock its 19th biggest position. Archer Investment Corp’s holdings in CVS Health were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVS. Tyche Wealth Partners LLC bought a new position in shares of CVS Health in the 4th quarter worth about $202,000. Aspen Wealth Strategies LLC increased its stake in shares of CVS Health by 1.4% in the 4th quarter. Aspen Wealth Strategies LLC now owns 15,203 shares of the pharmacy operator’s stock worth $1,200,000 after acquiring an additional 214 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of CVS Health by 4.3% in the 4th quarter. Avior Wealth Management LLC now owns 8,039 shares of the pharmacy operator’s stock worth $635,000 after acquiring an additional 332 shares in the last quarter. Lipe & Dalton increased its stake in shares of CVS Health by 1.0% in the 4th quarter. Lipe & Dalton now owns 28,015 shares of the pharmacy operator’s stock worth $2,212,000 after acquiring an additional 270 shares in the last quarter. Finally, Wealth Alliance increased its stake in shares of CVS Health by 1.6% in the 4th quarter. Wealth Alliance now owns 14,928 shares of the pharmacy operator’s stock worth $1,179,000 after acquiring an additional 236 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, Barclays initiated coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Stock Performance

Shares of CVS traded down $0.50 on Wednesday, reaching $68.53. The company’s stock had a trading volume of 4,577,574 shares, compared to its average volume of 10,854,878. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The stock has a market capitalization of $86.38 billion, a P/E ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.52. The stock’s 50 day simple moving average is $75.68 and its two-hundred day simple moving average is $73.77.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 earnings per share. Research analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

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.