CVS Health Co. (NYSE:CVS) Shares Bought by TCG Advisory Services LLC

TCG Advisory Services LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 730.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 80,208 shares of the pharmacy operator’s stock after purchasing an additional 70,544 shares during the quarter. TCG Advisory Services LLC’s holdings in CVS Health were worth $6,333,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC increased its position in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after buying an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of CVS Health by 49.9% in the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after acquiring an additional 698,054 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after acquiring an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of CVS Health during the third quarter valued at $34,379,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 1.4 %

NYSE:CVS traded up $0.75 during mid-day trading on Friday, hitting $55.90. The company had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25. The business has a fifty day simple moving average of $72.77 and a 200-day simple moving average of $73.26. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $2.20 earnings per share. Equities analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial restated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday. Barclays decreased their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday. Mizuho decreased their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.35.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 1,000 shares of the business’s 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 owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate 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.