Atria Wealth Solutions Inc. Increases Stock Position in CVS Health Co. (NYSE:CVS)

Atria Wealth Solutions Inc. increased its position in CVS Health Co. (NYSE:CVS) by 62.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 62,160 shares of the pharmacy operator’s stock after purchasing an additional 23,849 shares during the period. Atria Wealth Solutions Inc.’s holdings in CVS Health were worth $2,790,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC lifted its stake in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after buying an additional 200 shares during the last quarter. Widmann Financial Services Inc. raised its position in CVS Health by 1.8% in the 3rd 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 during the last quarter. DT Investment Partners LLC boosted its stake in CVS Health by 7.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after purchasing an additional 202 shares during the period. Manchester Capital Management LLC grew its position in CVS Health by 4.8% during the 4th 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 last quarter. Finally, Rogco LP increased its stake in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after purchasing an additional 210 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group dropped their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Performance

NYSE:CVS opened at $63.42 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $56.23.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that CVS Health Co. will post 5.9 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

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.