Parr Mcknight Wealth Management Group LLC Invests $217,000 in CVS Health Co. (NYSE:CVS)

Parr Mcknight Wealth Management Group LLC bought a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,824 shares of the pharmacy operator’s stock, valued at approximately $217,000.

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

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Price Performance

CVS opened at $60.80 on Friday. The stock has a 50-day moving average price of $66.15 and a 200-day moving average price of $59.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $76.91 billion, a PE ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51.

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

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Wolfe Research lifted their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.94.

CVS Health Company 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.