Rahlfs Capital LLC Takes $266,000 Position in CVS Health Co. (NYSE:CVS)

Rahlfs Capital LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,930 shares of the pharmacy operator’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVS. Norges Bank purchased a new position in shares of CVS Health in the 4th quarter worth approximately $839,574,000. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% during the fourth 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. Pzena Investment Management LLC raised its stake in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CVS Health during the fourth quarter valued at about $116,033,000. Finally, ARGA Investment Management LP raised its position in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. Truist Financial raised their target price on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Down 5.9 %

Shares of NYSE:CVS opened at $63.54 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $75.12. The firm has a fifty day moving average price of $63.47 and a 200 day moving average price of $58.01. The stock has a market cap of $80.11 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

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.