HighPoint Advisor Group LLC Takes Position in CVS Health Co. (NYSE:CVS)

HighPoint Advisor Group LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 48,976 shares of the pharmacy operator’s stock, valued at approximately $3,868,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after buying an additional 533,659 shares during the last quarter. Capital World Investors raised its stake in shares of CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock valued at $3,201,410,000 after purchasing an additional 119,631 shares during the period. Capital International Investors raised its stake in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. FMR LLC raised its stake in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Finally, Northern Trust Corp raised its stake in shares of CVS Health by 2.2% during the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock valued at $992,442,000 after purchasing an additional 305,564 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of analyst reports. Bank of America decreased their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Mizuho decreased their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $58.00 target price on shares of CVS Health in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Trading Up 0.3 %

CVS stock traded up $0.21 during trading on Tuesday, hitting $61.30. 864,100 shares of the company traded hands, compared to its average volume of 12,040,265. The firm has a market capitalization of $76.95 billion, a PE ratio of 10.74, a P/E/G ratio of 0.57 and a beta of 0.53. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a 50-day moving average of $61.24 and a 200-day moving average of $70.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. Analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

CVS Health 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.