Kestra Private Wealth Services LLC Acquires 8,786 Shares of CVS Health Co. (NYSE:CVS)

Kestra Private Wealth Services LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 97,488 shares of the pharmacy operator’s stock after purchasing an additional 8,786 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in CVS Health were worth $7,698,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVS. Bryn Mawr Capital Management LLC increased its holdings in CVS Health by 74.0% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares in the last quarter. Value Partners Investments Inc. raised its stake in shares of CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after purchasing an additional 207,702 shares during the period. Sonora Investment Management Group LLC lifted its holdings in shares of CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares during the period. Finally, Personal CFO Solutions LLC grew its position in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Royal Bank of Canada lowered their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. SVB Leerink initiated coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Trading Up 0.5 %

Shares of NYSE:CVS traded up $0.35 on Tuesday, hitting $67.80. The company had a trading volume of 2,733,145 shares, compared to its average volume of 10,507,669. The firm’s 50-day simple moving average is $74.22 and its two-hundred day simple moving average is $73.65. The firm has a market capitalization of $85.46 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the previous year, the firm posted $1.99 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred 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 owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

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.