Clay Northam Wealth Management LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

Clay Northam Wealth Management LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,845 shares of the pharmacy operator’s stock, valued at approximately $225,000.

Other large investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in CVS Health by 103,371.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares during the last quarter. Norges Bank bought a new position in CVS Health in the fourth quarter valued at about $1,425,416,000. FMR LLC grew its position in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Morgan Stanley grew its position in CVS Health by 10.9% in the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares during the last quarter. Finally, Barclays PLC grew its position in CVS Health by 97.8% in the second quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after acquiring an additional 2,711,102 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

CVS Health Trading Up 0.1 %

CVS stock traded up $0.04 during trading on Thursday, hitting $74.64. 771,123 shares of the company traded hands, compared to its average volume of 11,256,021. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a 50-day moving average of $76.01 and a 200-day moving average of $73.72. The firm has a market capitalization of $93.93 billion, a PE ratio of 11.57, a P/E/G ratio of 0.98 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter last year, the business posted $1.99 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Analysts predict that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is presently 41.18%.

Analysts Set New Price Targets

A number of analysts have recently commented on CVS shares. HSBC started coverage on CVS Health in a research note on Friday, December 22nd. They set a “buy” rating and a $94.00 price target on the stock. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. TD Cowen cut their price target on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Finally, SVB Leerink started coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

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.