Integrated Quantitative Investments LLC Purchases New Holdings in CVS Health Co. (NYSE:CVS)

Integrated Quantitative Investments LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,500 shares of the pharmacy operator’s stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Landscape Capital Management L.L.C. raised its position in CVS Health by 55.9% during the 4th quarter. Landscape Capital Management L.L.C. now owns 117,729 shares of the pharmacy operator’s stock worth $5,285,000 after buying an additional 42,205 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in CVS Health during the fourth quarter worth about $11,437,000. Motley Fool Asset Management LLC lifted its position in CVS Health by 14.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 65,668 shares of the pharmacy operator’s stock valued at $2,948,000 after purchasing an additional 8,198 shares during the period. World Investment Advisors increased its position in CVS Health by 16.0% during the 4th quarter. World Investment Advisors now owns 31,947 shares of the pharmacy operator’s stock worth $1,434,000 after purchasing an additional 4,404 shares during the period. Finally, OneAscent Financial Services LLC lifted its holdings in shares of CVS Health by 22.7% in the 4th quarter. OneAscent Financial Services LLC now owns 6,027 shares of the pharmacy operator’s stock valued at $271,000 after buying an additional 1,117 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS Health stock opened at $63.54 on Friday. The firm’s 50-day moving average is $63.47 and its two-hundred day moving average is $58.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $80.11 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $75.12.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly 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. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Piper Sandler increased their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. 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 data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health 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.