Millstone Evans Group LLC Acquires New Position in CVS Health Co. (NYSE:CVS)

Millstone Evans Group LLC bought a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,739 shares of the pharmacy operator’s stock, valued at approximately $78,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. TD Private Client Wealth LLC increased its stake in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Principal Financial Group Inc. increased its position in 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 worth $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its stake in CVS Health by 8.4% during 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 during the period. Hall Laurie J Trustee boosted its holdings in CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after purchasing an additional 11,468 shares during the last quarter. Finally, B&D White Capital Company LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $417,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 2.1 %

CVS opened at $67.22 on Monday. The business’s 50-day simple moving average is $60.60 and its 200-day simple moving average is $57.35. The company has a market cap of $84.75 billion, a P/E ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays increased their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company 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.