Belpointe Asset Management LLC Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

Belpointe Asset Management LLC increased its stake in shares of CVS Health Co. (NYSE:CVSFree Report) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,734 shares of the pharmacy operator’s stock after purchasing an additional 3,348 shares during the quarter. Belpointe Asset Management LLC’s holdings in CVS Health were worth $1,400,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its holdings in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas boosted its holdings in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC lifted its position in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the period. Finally, Coston McIsaac & Partners boosted its stake in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after acquiring an additional 161 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 0.1 %

CVS traded up $0.04 during trading on Tuesday, hitting $60.25. 12,871,104 shares of the company’s stock were exchanged, compared to its average volume of 12,265,445. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a 50 day moving average price of $64.12 and a 200 day moving average price of $71.39. The firm has a market cap of $75.64 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 0.57 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVSGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. As a group, analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVS. Wells Fargo & Company decreased their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. The Goldman Sachs Group dropped their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Bank of America reduced their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Mizuho cut their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays lowered their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Get Our Latest Research Report on CVS Health

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

About CVS Health

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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