Sowell Financial Services LLC Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Sowell Financial Services LLC raised its stake in CVS Health Co. (NYSE:CVS) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,370 shares of the pharmacy operator’s stock after purchasing an additional 5,689 shares during the quarter. Sowell Financial Services LLC’s holdings in CVS Health were worth $1,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CWA Asset Management Group LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth $777,000. SpiderRock Advisors LLC raised its holdings in CVS Health by 3.2% during the third quarter. SpiderRock Advisors LLC now owns 10,807 shares of the pharmacy operator’s stock worth $680,000 after purchasing an additional 332 shares in the last quarter. Tyler Stone Wealth Management lifted its position in CVS Health by 83.7% in the third quarter. Tyler Stone Wealth Management now owns 10,169 shares of the pharmacy operator’s stock valued at $639,000 after purchasing an additional 4,632 shares during the period. Ashton Thomas Securities LLC boosted its holdings in CVS Health by 9.1% in the 3rd quarter. Ashton Thomas Securities LLC now owns 40,829 shares of the pharmacy operator’s stock valued at $2,567,000 after purchasing an additional 3,391 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 1.8 %

Shares of CVS stock opened at $65.13 on Tuesday. The company has a market capitalization of $82.11 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $56.84 and a 200 day moving average price of $56.78. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last announced 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 net margin of 1.24% and a return on equity of 9.11%. Research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial upped their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Wolfe Research increased their target price 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. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

About CVS Health

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.