Western Wealth Management LLC acquired a new stake in shares of CVS Health Corp (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,611 shares of the pharmacy operator’s stock, valued at approximately $573,000.
Other hedge funds also recently bought and sold shares of the company. Brookmont Capital Management boosted its stake in shares of CVS Health by 3.0% in the 4th quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock worth $340,000 after buying an additional 152 shares during the last quarter. Avestar Capital LLC boosted its stake in shares of CVS Health by 19.6% in the 4th quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock worth $57,000 after buying an additional 156 shares during the last quarter. Clarus Wealth Advisors boosted its stake in shares of CVS Health by 6.9% in the 4th quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock worth $161,000 after buying an additional 158 shares during the last quarter. Griffin Asset Management Inc. boosted its stake in shares of CVS Health by 1.4% in the 3rd quarter. Griffin Asset Management Inc. now owns 11,438 shares of the pharmacy operator’s stock worth $900,000 after buying an additional 160 shares during the last quarter. Finally, Adviser Investments LLC boosted its stake in shares of CVS Health by 5.4% in the 4th quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock worth $207,000 after buying an additional 162 shares during the last quarter. 81.55% of the stock is owned by institutional investors.
In other news, insider Larry J. Merlo sold 166,368 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.51, for a total value of $10,732,399.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan C. Roberts sold 77,639 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. 0.53% of the stock is owned by insiders.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health Corp will post 6.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 3.80%. CVS Health’s payout ratio is 28.25%.
Several equities analysts recently weighed in on CVS shares. Bank of America reiterated a “buy” rating and set a $92.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. Cantor Fitzgerald reiterated a “buy” rating and set a $96.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. UBS Group started coverage on CVS Health in a research report on Thursday, January 17th. They set a “buy” rating and a $75.00 target price on the stock. ValuEngine downgraded CVS Health from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 17th. Finally, Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $104.00 to $68.00 in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. CVS Health has an average rating of “Buy” and a consensus target price of $79.15.
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About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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