Sagespring Wealth Partners LLC Invests $303,000 in CVS Health Co. (NYSE:CVS)

Sagespring Wealth Partners LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,761 shares of the pharmacy operator’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Morse Asset Management Inc acquired a new position in CVS Health during the third quarter worth approximately $409,000. Westside Investment Management Inc. increased its holdings in shares of CVS Health by 4.6% during the 3rd quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock worth $4,041,000 after acquiring an additional 2,856 shares during the last quarter. World Investment Advisors LLC raised its stake in CVS Health by 280.7% in the 3rd quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock valued at $1,732,000 after acquiring an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB bought a new position in CVS Health during the third quarter worth $2,071,000. Finally, Tidal Investments LLC increased its holdings in shares of CVS Health by 52.2% in the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after purchasing an additional 38,408 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

Shares of CVS stock opened at $68.59 on Thursday. The business has a fifty day simple moving average of $65.96 and a 200 day simple moving average of $58.70. The company has a market cap of $86.48 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.98 and a beta of 0.57. 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 twelve month low of $43.56 and a twelve month high of $71.45.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVS shares. Mizuho raised their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.83.

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.