RWA Wealth Partners LLC Grows Holdings in CVS Health Co. (NYSE:CVS)

RWA Wealth Partners LLC grew its stake in CVS Health Co. (NYSE:CVS) by 23.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 63,952 shares of the pharmacy operator’s stock after acquiring an additional 12,217 shares during the period. RWA Wealth Partners LLC’s holdings in CVS Health were worth $5,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Summit Global Investments boosted its holdings in CVS Health by 14.8% in the third quarter. Summit Global Investments now owns 11,369 shares of the pharmacy operator’s stock valued at $794,000 after purchasing an additional 1,467 shares in the last quarter. 1900 Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at $219,000. Alhambra Investment Partners LLC grew its position in shares of CVS Health by 4.6% in the 3rd quarter. Alhambra Investment Partners LLC now owns 19,937 shares of the pharmacy operator’s stock valued at $1,392,000 after buying an additional 868 shares during the last quarter. Baker Chad R grew its position in shares of CVS Health by 0.5% in the 3rd quarter. Baker Chad R now owns 96,150 shares of the pharmacy operator’s stock valued at $6,713,000 after buying an additional 435 shares during the last quarter. Finally, Midwest Financial Group LLC grew its position in shares of CVS Health by 8.7% in the 3rd quarter. Midwest Financial Group LLC now owns 6,630 shares of the pharmacy operator’s stock valued at $463,000 after buying an additional 530 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by insiders.

CVS Health Stock Up 0.0 %

CVS stock opened at $69.65 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The stock has a market capitalization of $87.79 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a fifty day moving average of $75.13 and a 200-day moving average of $73.77. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the business earned $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Analysts Set New Price Targets

CVS has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Piper Sandler increased their target price 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. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

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.