Pinnacle Bancorp Inc. Increases Stake in CVS Health Co. (NYSE:CVS)

Pinnacle Bancorp Inc. grew its stake in CVS Health Co. (NYSE:CVS) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,605 shares of the pharmacy operator’s stock after buying an additional 150 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in CVS Health were worth $285,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SOL Capital Management CO boosted its stake in shares of CVS Health by 4.9% in the 4th quarter. SOL Capital Management CO now owns 49,522 shares of the pharmacy operator’s stock valued at $3,910,000 after buying an additional 2,305 shares during the period. HBK Sorce Advisory LLC lifted its stake in CVS Health by 5.1% during the fourth quarter. HBK Sorce Advisory LLC now owns 48,534 shares of the pharmacy operator’s stock worth $3,832,000 after purchasing an additional 2,347 shares during the last quarter. International Assets Investment Management LLC lifted its stake in CVS Health by 11.4% during the fourth quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock worth $1,322,000 after purchasing an additional 1,715 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in CVS Health during the fourth quarter worth approximately $221,000. Finally, Bleakley Financial Group LLC lifted its stake in CVS Health by 9.2% during the fourth quarter. Bleakley Financial Group LLC now owns 32,435 shares of the pharmacy operator’s stock worth $2,561,000 after purchasing an additional 2,740 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS traded down $0.12 during trading on Monday, reaching $74.46. 6,496,014 shares of the stock were exchanged, compared to its average volume of 11,188,963. The business’s 50 day moving average price is $76.08 and its two-hundred day moving average price is $73.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The company has a market capitalization of $93.70 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 0.99 and a beta of 0.52. 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 earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 8.33 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.57%. CVS Health’s dividend payout ratio is currently 41.18%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CVS. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Royal Bank of Canada cut 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research report on Thursday. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, SVB Leerink started coverage on CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

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.