North Fourth Asset Management LP purchased a new stake in shares of CVS Health (NYSE:CVS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the pharmacy operator’s stock, valued at approximately $1,450,000.
Other hedge funds have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC lifted its holdings in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares during the period. Fieldpoint Private Securities LLC lifted its holdings in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Cerebellum GP LLC bought a new position in CVS Health in the fourth quarter valued at about $130,000. Capital Analysts LLC lifted its holdings in CVS Health by 240.1% in the fourth quarter. Capital Analysts LLC now owns 3,177 shares of the pharmacy operator’s stock valued at $137,000 after acquiring an additional 2,243 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in CVS Health in the third quarter valued at about $159,000. 84.01% of the stock is currently owned by institutional investors.
NYSE:CVS opened at $66.60 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52. CVS Health has a 12-month low of $60.14 and a 12-month high of $84.00. The stock has a market cap of $66,066.33, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, April 20th. CVS Health’s dividend payout ratio is currently 33.90%.
In related news, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares in the company, valued at $4,622,714.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.
A number of research analysts have weighed in on the company. Morgan Stanley raised CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 target price on the stock in a report on Friday, January 5th. Needham & Company LLC increased their target price on CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. SunTrust Banks increased their target price on CVS Health to $90.00 and gave the company a “buy” rating in a report on Friday, January 5th. Leerink Swann set a $85.00 target price on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Mizuho set a $95.00 target price on CVS Health and gave the company a “buy” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.65.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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