VCI Wealth Management LLC Acquires New Holdings in CVS Health Co. (NYSE:CVS)

VCI Wealth Management LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The fund acquired 11,853 shares of the pharmacy operator’s stock, valued at approximately $936,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its holdings in CVS Health by 22.8% during the third quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock valued at $418,000 after buying an additional 1,112 shares during the last quarter. Private Trust Co. NA increased its holdings in CVS Health by 21.9% during the third quarter. Private Trust Co. NA now owns 17,253 shares of the pharmacy operator’s stock valued at $1,205,000 after buying an additional 3,103 shares during the last quarter. Riverwater Partners LLC increased its stake in shares of CVS Health by 24.3% in the third quarter. Riverwater Partners LLC now owns 4,205 shares of the pharmacy operator’s stock worth $294,000 after purchasing an additional 821 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of CVS Health by 6.8% in the third quarter. Proficio Capital Partners LLC now owns 3,751 shares of the pharmacy operator’s stock worth $262,000 after purchasing an additional 238 shares in the last quarter. Finally, Capital Asset Advisory Services LLC increased its stake in shares of CVS Health by 2.9% in the third quarter. Capital Asset Advisory Services LLC now owns 10,696 shares of the pharmacy operator’s stock worth $767,000 after purchasing an additional 299 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated 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 sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Down 0.7 %

Shares of CVS stock traded down $0.45 during trading hours on Thursday, reaching $67.32. 8,915,583 shares of the stock were exchanged, compared to its average volume of 10,708,336. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $74.80 and its 200-day moving average price is $73.72. The firm has a market capitalization of $84.86 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.91 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 net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the previous year, the company earned $1.99 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.95%. CVS Health’s payout ratio is 41.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVS. Wells Fargo & Company reduced their price objective 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. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Royal Bank of Canada reduced their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, SVB Leerink started coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.44.

About CVS Health

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.