Ball & Co Wealth Management Inc. Takes Position in CVS Health Co. (NYSE:CVS)

Ball & Co Wealth Management Inc. purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,101 shares of the pharmacy operator’s stock, valued at approximately $49,000.

A number of other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC lifted its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 174 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in CVS Health by 17.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock worth $56,000 after purchasing an additional 189 shares in the last quarter. EagleClaw Capital Managment LLC lifted its holdings in CVS Health by 3.4% during the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock worth $275,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after purchasing an additional 204 shares in the last quarter. Finally, Angeles Investment Advisors LLC lifted its holdings in CVS Health by 3.7% during the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock worth $256,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $60.80 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $76.91 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The business’s 50-day moving average price is $66.15 and its 200-day moving average price is $59.41. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.38%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

Insider Activity

In related 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 transaction of $498,487.55. Following the transaction, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial increased their price objective on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company reissued an “overweight” rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, UBS Group increased their price objective on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

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.