Townsend Asset Management Corp NC ADV Makes New $233,000 Investment in CVS Health Co. (NYSE:CVS)

Townsend Asset Management Corp NC ADV bought a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,946 shares of the pharmacy operator’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monument Capital Management purchased a new position in shares of CVS Health in the fourth quarter worth about $207,000. Stock Yards Bank & Trust Co. raised its position in CVS Health by 6.4% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 47,127 shares of the pharmacy operator’s stock worth $3,721,000 after buying an additional 2,841 shares during the last quarter. OLD National Bancorp IN lifted its stake in CVS Health by 0.9% during the 4th quarter. OLD National Bancorp IN now owns 253,570 shares of the pharmacy operator’s stock valued at $20,022,000 after acquiring an additional 2,177 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of CVS Health in the fourth quarter worth $463,000. Finally, Cetera Trust Company N.A purchased a new position in shares of CVS Health during the 4th quarter valued at about $1,527,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.2 %

Shares of CVS traded up $0.14 during midday trading on Monday, reaching $69.89. The company had a trading volume of 3,515,850 shares, compared to its average volume of 10,756,756. The firm has a 50 day simple moving average of $75.29 and a 200-day simple moving average of $73.77. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The stock has a market cap of $88.09 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.92 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 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 EPS. Research analysts forecast that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company lowered 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 report on Monday, April 8th. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Finally, SVB Leerink initiated coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.