Kingsview Wealth Management LLC Acquires 15,400 Shares of CVS Health Co. (NYSE:CVS)

Kingsview Wealth Management LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,634 shares of the pharmacy operator’s stock after buying an additional 15,400 shares during the quarter. Kingsview Wealth Management LLC’s holdings in CVS Health were worth $8,288,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. grew its position in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after buying an additional 10,465 shares in the last quarter. Cullinan Associates Inc. grew its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after acquiring an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its stake in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVS shares. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada lowered their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Truist Financial decreased their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Trading Down 0.5 %

Shares of NYSE:CVS opened at $53.95 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The business has a 50-day moving average price of $50.79 and a 200-day moving average price of $56.01. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $67.90 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $2.21 EPS. Equities analysts predict that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.