Creekmur Asset Management LLC Makes New $34,000 Investment in CVS Health Co. (NYSE:CVS)

Creekmur Asset Management LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 430 shares of the pharmacy operator’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Qtron Investments LLC raised its stake in shares of CVS Health by 10.4% during the 3rd quarter. Qtron Investments LLC now owns 5,747 shares of the pharmacy operator’s stock valued at $401,000 after buying an additional 543 shares during the last quarter. Glenview Trust co raised its stake in shares of CVS Health by 38.4% during the 3rd quarter. Glenview Trust co now owns 115,335 shares of the pharmacy operator’s stock valued at $8,053,000 after buying an additional 32,024 shares during the last quarter. PAX Financial Group LLC raised its stake in shares of CVS Health by 2.9% during the 3rd quarter. PAX Financial Group LLC now owns 8,690 shares of the pharmacy operator’s stock valued at $607,000 after buying an additional 248 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of CVS Health by 2,763.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,035 shares of the pharmacy operator’s stock valued at $212,000 after buying an additional 2,929 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of CVS Health by 4.3% during the 3rd quarter. Acadian Asset Management LLC now owns 317,865 shares of the pharmacy operator’s stock valued at $22,192,000 after buying an additional 13,224 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Argus cut their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Bank of America cut their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Trading Up 1.5 %

Shares of CVS Health stock opened at $61.10 on Tuesday. The stock has a market cap of $76.70 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.57 and a beta of 0.53. The stock’s 50 day simple moving average is $61.24 and its 200-day simple moving average is $70.90. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share 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 company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by 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.