Frank Rimerman Advisors LLC Has $529,000 Position in CVS Health Co. (NYSE:CVS)

Frank Rimerman Advisors LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 63.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,787 shares of the pharmacy operator’s stock after purchasing an additional 4,571 shares during the period. Frank Rimerman Advisors LLC’s holdings in CVS Health were worth $529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. State Street Corp boosted its stake in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC increased its holdings in CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of CVS Health by 49.3% during the fourth 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. Charles Schwab Investment Management Inc. grew its holdings in shares of CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock worth $579,932,000 after buying an additional 710,281 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVS. Wells Fargo & Company increased their price objective on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial increased their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Argus set a $77.00 price target on CVS Health in a research note on Tuesday, February 18th. Finally, Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Performance

CVS opened at $65.63 on Monday. The stock has a market cap of $82.75 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average of $58.47 and a 200-day moving average of $56.98. The company has a quick ratio of 0.60, a current ratio of 0.81 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 $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

About CVS Health

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.