New Age Alpha Advisors LLC Purchases New Shares in CVS Health Co. (NYSE:CVS)

New Age Alpha Advisors LLC acquired a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 74,655 shares of the pharmacy operator’s stock, valued at approximately $3,351,000.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter worth about $31,000. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health in the 4th quarter worth $29,000. Finally, Financial Perspectives Inc raised its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the topic of several research analyst reports. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. UBS Group reduced their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Down 0.7 %

Shares of NYSE:CVS opened at $67.13 on Friday. The business has a 50-day moving average price of $62.12 and a 200 day moving average price of $57.67. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $79.98. 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 (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s payout ratio is 72.68%.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of the 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

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.