Spire Wealth Management Grows Position in CVS Health Co. (NYSE:CVS)

Spire Wealth Management boosted its holdings in CVS Health Co. (NYSE:CVS) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,397 shares of the pharmacy operator’s stock after buying an additional 2,634 shares during the quarter. Spire Wealth Management’s holdings in CVS Health were worth $556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVS. Sound Income Strategies LLC lifted its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the period. Hexagon Capital Partners LLC raised its stake in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after acquiring an additional 200 shares during the period. Finally, Widmann Financial Services Inc. increased its position in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $55.62 on Thursday. The company has a market capitalization of $69.99 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61. The company’s fifty day moving average price is $51.11 and its 200-day moving average price is $56.06. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. On average, equities analysts anticipate that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.78%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Truist Financial lowered their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.12.

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.