Michels Family Financial LLC Takes Position in CVS Health Co. (NYSE:CVS)

Michels Family Financial LLC purchased a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,111 shares of the pharmacy operator’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Norges Bank bought a new position in CVS Health in the fourth quarter worth $839,574,000. Capital World Investors grew its stake in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares during the last quarter. Davis Selected Advisers boosted its stake in CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Dodge & Cox grew its position in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

CVS Health Price Performance

NYSE:CVS opened at $60.80 on Friday. The company has a market capitalization of $76.91 billion, a P/E ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.60. The business’s 50-day moving average is $66.15 and its 200 day moving average is $59.41. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. 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 results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. CVS Health’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

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.