Nicholas Hoffman & Company LLC. Buys 317 Shares of CVS Health Co. (NYSE:CVS)

Nicholas Hoffman & Company LLC. boosted its position in CVS Health Co. (NYSE:CVS) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,154 shares of the pharmacy operator’s stock after purchasing an additional 317 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in CVS Health were worth $650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of CVS Health during the fourth quarter valued at about $1,092,040,000. Capital International Investors increased its holdings in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares during the period. FMR LLC lifted its stake in CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the period. Finally, Junto Capital Management LP purchased a new position in shares of CVS Health during the 4th quarter valued at $111,209,000. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. SVB Leerink began coverage on CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Performance

Shares of CVS stock traded up $0.28 during mid-day trading on Tuesday, reaching $67.73. 13,476,347 shares of the company’s stock traded hands, compared to its average volume of 10,639,692. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The firm has a 50 day moving average price of $74.05 and a two-hundred day moving average price of $73.62. The firm has a market capitalization of $85.37 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the previous year, the firm earned $1.99 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts forecast that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.93%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

CVS Health 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.