Stonegate Investment Group LLC Raises Holdings in CVS Health Co. (NYSE:CVS)

Stonegate Investment Group LLC boosted its stake in CVS Health Co. (NYSE:CVS) by 14.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,096 shares of the pharmacy operator’s stock after buying an additional 1,151 shares during the quarter. Stonegate Investment Group LLC’s holdings in CVS Health were worth $408,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. grew its holdings in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its stake in shares of CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $57.45 on Wednesday. The business’s 50-day simple moving average is $51.24 and its 200 day simple moving average is $56.19. The company has a market cap of $72.29 billion, a P/E ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. On average, sell-side analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Analysts Set New Price Targets

Several brokerages have weighed in on CVS. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial dropped their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Tuesday, December 3rd. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

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.