Ables Iannone Moore & Associates Inc. Takes Position in CVS Health Co. (NYSE:CVS)

Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 411 shares of the pharmacy operator’s stock, valued at approximately $32,000.

A number of other hedge funds have also bought and sold shares of CVS. Atticus Wealth Management LLC increased its position in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas increased its position in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the period. Creekmur Asset Management LLC bought a new position in CVS Health during the fourth quarter worth about $34,000. Scarborough Advisors LLC bought a new position in CVS Health during the fourth quarter worth about $37,000. Finally, ZRC Wealth Management LLC increased its holdings in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $58.00 price target on shares of CVS Health in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group reduced their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Stock Up 1.5 %

CVS Health stock opened at $61.10 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The firm has a 50 day moving average price of $61.24 and a two-hundred day moving average price of $70.90. The firm has a market cap of $76.70 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.57 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.35%. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Activity

In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by company insiders.

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.