Mountain Hill Investment Partners Corp. Invests $3.35 Million in CVS Health Co. (NYSE:CVS)

Mountain Hill Investment Partners Corp. purchased a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 74,620 shares of the pharmacy operator’s stock, valued at approximately $3,350,000. CVS Health comprises approximately 3.4% of Mountain Hill Investment Partners Corp.’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Drexel Morgan & Co. raised its position in CVS Health by 199.8% in the 4th quarter. Drexel Morgan & Co. now owns 600,165 shares of the pharmacy operator’s stock worth $26,941,000 after purchasing an additional 400,000 shares during the period. Stevens Capital Management LP purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $1,426,000. Simplify Asset Management Inc. bought a new stake in shares of CVS Health during the 4th quarter worth approximately $409,000. KLP Kapitalforvaltning AS purchased a new position in CVS Health during the 4th quarter valued at $24,169,000. Finally, Mizuho Securities USA LLC increased its stake in CVS Health by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 119,269 shares of the pharmacy operator’s stock worth $5,354,000 after purchasing an additional 37,696 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 2.1 %

NYSE CVS opened at $67.22 on Monday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a 50 day moving average price of $60.60 and a 200 day moving average price of $57.35. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market cap of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $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.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Piper Sandler upped their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Wolfe Research lifted their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their price objective on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

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.