AM Investment Strategies LLC Raises Stake in CVS Health Co. (NYSE:CVS)

AM Investment Strategies LLC raised its position in shares of CVS Health Co. (NYSE:CVS) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,618 shares of the pharmacy operator’s stock after purchasing an additional 908 shares during the quarter. AM Investment Strategies LLC’s holdings in CVS Health were worth $602,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Atticus Wealth Management LLC lifted its holdings in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC lifted its holdings in shares of CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares in the last quarter. Coston McIsaac & Partners lifted its holdings in shares of CVS Health by 42.6% in the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVS shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. Barclays began coverage on shares of CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Stock Down 0.7 %

CVS Health stock traded down $0.45 during midday trading on Thursday, hitting $67.32. 8,915,583 shares of the company’s stock were exchanged, compared to its average volume of 10,708,336. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The firm has a 50-day moving average of $74.61 and a two-hundred day moving average of $73.67. The company has a market cap of $84.86 billion, a PE ratio of 10.42, a P/E/G ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. 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 business earned $1.99 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

CVS Health 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.