Cornerstone Advisors LLC Acquires 2,100 Shares of CVS Health Co. (NYSE:CVS)

Cornerstone Advisors LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 7.7% in the fourth quarter, HoldingsChannel reports. The firm owned 29,300 shares of the pharmacy operator’s stock after buying an additional 2,100 shares during the quarter. Cornerstone Advisors LLC’s holdings in CVS Health were worth $1,315,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its stake in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Principal Financial Group Inc. grew its stake in CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its stake in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after acquiring an additional 10,453 shares in the last quarter. Hall Laurie J Trustee boosted its position in shares of CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after purchasing an additional 11,468 shares in the last quarter. Finally, B&D White Capital Company LLC purchased a new stake in shares of CVS Health during the fourth quarter worth about $417,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Argus set a $77.00 price target on CVS Health in a research report on Tuesday, February 18th. Finally, Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Down 1.8 %

CVS stock opened at $65.13 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a fifty day moving average price of $56.84 and a two-hundred day moving average price of $56.78. The firm has a market cap of $82.11 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. Research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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

Insider Activity

In related news, Director Michael F. Mahoney bought 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, with a total value of $2,001,000.00. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

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.