Twin Capital Management Inc. Raises Position in CVS Health Co. (NYSE:CVS)

Twin Capital Management Inc. increased its position in CVS Health Co. (NYSE:CVS) by 18.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,662 shares of the pharmacy operator’s stock after buying an additional 5,335 shares during the period. Twin Capital Management Inc.’s holdings in CVS Health were worth $2,737,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CVS. Live Oak Investment Partners purchased a new position in shares of CVS Health in the 4th quarter worth $25,000. Atticus Wealth Management LLC raised its position in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC raised its position in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the period. PCA Investment Advisory Services Inc. purchased a new position in shares of CVS Health in the 2nd quarter worth $37,000. Finally, ZRC Wealth Management LLC raised its position in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler increased their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. SVB Leerink assumed coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research report on Wednesday, April 10th. HSBC assumed coverage on CVS Health in a research report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, Royal Bank of Canada cut their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.6 %

NYSE:CVS traded up $0.39 during mid-day trading on Thursday, reaching $68.99. The stock had a trading volume of 4,103,447 shares, compared to its average volume of 10,812,391. The company has a market capitalization of $86.96 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.91 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. The stock’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $73.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.