17,539 Shares in CVS Health Co. (NYSE:CVS) Bought by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,539 shares of the pharmacy operator’s stock, valued at approximately $787,000.

Several other institutional investors have also recently modified their holdings of CVS. Legacy Investment Solutions LLC purchased a new position in CVS Health during the 3rd quarter worth approximately $31,000. Ridgewood Investments LLC raised its holdings in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at $28,000. RPg Family Wealth Advisory LLC purchased a new stake in CVS Health in the third quarter valued at $40,000. Finally, Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter worth about $29,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Trading Down 1.5 %

CVS opened at $66.54 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The company’s 50 day simple moving average is $61.22 and its two-hundred day simple moving average is $57.46. The firm has a market capitalization of $83.89 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.00%. CVS Health’s payout ratio is 72.68%.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.