Tower Research Capital LLC TRC Has $3.15 Million Position in CVS Health Co. (NYSE:CVS)

Tower Research Capital LLC TRC lifted its holdings in shares of CVS Health Co. (NYSE:CVS) by 40.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,218 shares of the pharmacy operator’s stock after buying an additional 20,107 shares during the period. Tower Research Capital LLC TRC’s holdings in CVS Health were worth $3,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the fourth quarter worth about $29,000. Financial Perspectives Inc raised its stake in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Finally, Compass Planning Associates Inc bought a new stake in shares of CVS Health in the 4th quarter valued at about $37,000. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.38 on Tuesday. The firm has a market capitalization of $82.43 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.98 and a beta of 0.57. 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 $71.45. The company’s fifty day moving average price is $66.50 and its 200-day moving average price is $58.76.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 return on equity of 9.11% and a net margin of 1.24%. On average, equities research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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 paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $71.83.

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.