Ipsen Advisor Group LLC Takes $303,000 Position in CVS Health Co. (NYSE:CVS)

Ipsen Advisor Group LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,756 shares of the pharmacy operator’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Widmann Financial Services Inc. increased its position in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after buying an additional 200 shares during the period. EagleClaw Capital Managment LLC increased its holdings in CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC increased its stake in shares of CVS Health by 3.7% during the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock worth $256,000 after purchasing an additional 204 shares in the last quarter. Finally, Rogco LP lifted its position in shares of 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 acquiring an additional 210 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Truist Financial raised their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Wolfe Research boosted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, 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. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Stock Down 1.5 %

NYSE CVS opened at $66.54 on Wednesday. The stock’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $57.46. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The firm has a market cap of $83.89 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.00%. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.