F M Investments LLC Acquires New Stake in CVS Health Co. (NYSE:CVS)

F M Investments LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,719 shares of the pharmacy operator’s stock, valued at approximately $215,000.

Several other hedge funds also recently made changes to their positions in CVS. South Dakota Investment Council lifted its position in CVS Health by 3.9% in the fourth quarter. South Dakota Investment Council now owns 235,726 shares of the pharmacy operator’s stock valued at $18,613,000 after purchasing an additional 8,933 shares during the period. NewSquare Capital LLC lifted its position in CVS Health by 3.3% in the fourth quarter. NewSquare Capital LLC now owns 101,367 shares of the pharmacy operator’s stock valued at $7,892,000 after purchasing an additional 3,199 shares during the period. Cutter & CO Brokerage Inc. acquired a new stake in CVS Health in the fourth quarter valued at about $270,000. GAMMA Investing LLC acquired a new stake in CVS Health in the fourth quarter valued at about $508,000. Finally, Community Bank & Trust Waco Texas lifted its position in CVS Health by 321.0% in the fourth quarter. Community Bank & Trust Waco Texas now owns 15,543 shares of the pharmacy operator’s stock valued at $1,227,000 after purchasing an additional 11,851 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 1.6 %

Shares of CVS Health stock traded down $1.13 during trading hours on Tuesday, reaching $68.50. 8,441,734 shares of the company’s stock were exchanged, compared to its average volume of 10,757,553. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The firm has a market capitalization of $86.34 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a fifty day moving average of $74.97 and a 200-day moving average of $73.76. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the company posted $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $89.44.

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.