BCU Wealth Advisors LLC Takes $598,000 Position in CVS Health Co. (NYSE:CVS)

BCU Wealth Advisors LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 7,572 shares of the pharmacy operator’s stock, valued at approximately $598,000. CVS Health makes up 0.6% of BCU Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC boosted its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas grew its holdings in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC raised its stake in shares of 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 purchasing an additional 400 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in CVS Health during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVS shares. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $58.00 in a report on Wednesday, May 1st. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Piper Sandler boosted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and cut their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Finally, Barclays cut their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.75.

CVS Health Price Performance

CVS Health stock traded down $0.34 during mid-day trading on Thursday, hitting $57.10. The company’s stock had a trading volume of 7,934,419 shares, compared to its average volume of 11,907,941. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25. The stock’s fifty day moving average price is $67.98 and its two-hundred day moving average price is $72.13. The stock has a market capitalization of $71.68 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.55 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. Research analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given 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 4.66%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Buying and Selling

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

About CVS Health

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.