Nicholas Hoffman & Company LLC. Buys 317 Shares of CVS Health Co. (NYSE:CVS)

Nicholas Hoffman & Company LLC. raised its position in shares of CVS Health Co. (NYSE:CVS) by 4.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,154 shares of the pharmacy operator’s stock after purchasing an additional 317 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in CVS Health were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after purchasing an additional 1,112 shares in the last quarter. Manning & Napier Group LLC raised its position in CVS Health by 5.2% during the third quarter. Manning & Napier Group LLC now owns 525,240 shares of the pharmacy operator’s stock worth $36,672,000 after acquiring an additional 25,779 shares during the period. Signet Investment Advisory Group Inc. lifted its stake in CVS Health by 7.2% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 32,958 shares of the pharmacy operator’s stock valued at $2,301,000 after buying an additional 2,209 shares in the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of CVS Health by 4.6% in the third quarter. Ascent Wealth Partners LLC now owns 12,800 shares of the pharmacy operator’s stock worth $894,000 after acquiring an additional 566 shares during the last quarter. Finally, Plimoth Trust Co. LLC grew its holdings in shares of CVS Health by 11.6% during the third quarter. Plimoth Trust Co. LLC now owns 45,541 shares of the pharmacy operator’s stock worth $3,180,000 after buying an additional 4,730 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVS shares. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Barclays assumed coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. 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 report on Friday, March 15th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, SVB Leerink initiated coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s 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 transaction, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.4 %

CVS stock traded up $0.28 during trading hours on Tuesday, hitting $67.73. The company’s stock had a trading volume of 13,476,347 shares, compared to its average volume of 10,639,692. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The stock has a 50 day moving average price of $74.05 and a two-hundred day moving average price of $73.62. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $85.37 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued 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. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.99 earnings per share. On average, equities research analysts expect that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.93%. CVS Health’s 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.