Kovack Advisors Inc. Grows Stake in CVS Health Co. (NYSE:CVS)

Kovack Advisors Inc. increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,940 shares of the pharmacy operator’s stock after purchasing an additional 2,078 shares during the quarter. Kovack Advisors Inc.’s holdings in CVS Health were worth $491,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the third quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter worth about $32,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock opened at $65.85 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market capitalization of $83.02 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61. The stock has a 50 day moving average price of $54.33 and a 200 day moving average price of $56.46.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVS. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Four research 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’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost 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. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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.