Prasad Wealth Partners LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Prasad Wealth Partners LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the fourth quarter, Holdings Channel.com reports. The firm bought 6,814 shares of the pharmacy operator’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Advisors Network LLC raised its stake in CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after acquiring an additional 200 shares in the last quarter. Widmann Financial Services Inc. raised its stake in shares of CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after purchasing an additional 204 shares during the period. Rogco LP grew its position in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 210 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in CVS Health by 2.4% during the 3rd quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock valued at $580,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Tuesday, December 3rd. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Barclays boosted their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Trading Down 0.8 %

NYSE CVS opened at $62.95 on Tuesday. The firm’s 50 day moving average price is $52.72 and its two-hundred day moving average price is $56.25. The stock has a market cap of $79.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

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.