Cary Street Partners Financial LLC Invests $647,000 in CVS Health Co. (NYSE:CVS)

Cary Street Partners Financial LLC purchased a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The firm purchased 14,414 shares of the pharmacy operator’s stock, valued at approximately $647,000.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $839,574,000. Capital World Investors raised its stake in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Dodge & Cox boosted its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after buying an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $67.82 on Friday. The stock has a 50-day moving average price of $66.90 and a 200 day moving average price of $58.97. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The stock has a market capitalization of $85.51 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. Equities research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is presently 63.48%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Mizuho increased their target price on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Truist Financial upped their price target on shares of CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.81.

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.