TCG Advisory Services LLC Boosts Holdings in CVS Health Co. (NYSE:CVS)

TCG Advisory Services LLC lifted its position in CVS Health Co. (NYSE:CVS) by 730.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,208 shares of the pharmacy operator’s stock after purchasing an additional 70,544 shares during the quarter. TCG Advisory Services LLC’s holdings in CVS Health were worth $6,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atticus Wealth Management LLC raised its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC raised its position in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of CVS Health during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CVS. Mizuho decreased their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a research report on Thursday. Wells Fargo & Company lowered their target price on 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 reduced their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Stock Up 1.4 %

Shares of CVS Health stock traded up $0.75 during midday trading on Friday, hitting $55.90. The company had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The company has a 50 day moving average of $72.77 and a 200 day moving average of $73.26. The stock has a market capitalization of $70.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, equities analysts predict that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the 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 transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.