Confluence Wealth Services Inc. Takes $1.32 Million Position in CVS Health Co. (NYSE:CVS)

Confluence Wealth Services Inc. acquired a new stake in shares of CVS Health Co. (NYSE:CVSGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,782 shares of the pharmacy operator’s stock, valued at approximately $1,318,000.

Other institutional investors have also recently added to or reduced their stakes in the company. West Bancorporation Inc. bought a new position in shares of CVS Health during the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of CVS Health during the 3rd quarter valued at $26,000. Capital Advisors Ltd. LLC boosted its position in shares of CVS Health by 125.7% in the fourth quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 176 shares during the period. Steph & Co. boosted its position in shares of CVS Health by 138.7% in the fourth quarter. Steph & Co. now owns 358 shares of the pharmacy operator’s stock worth $37,000 after buying an additional 208 shares during the period. Finally, Lowe Wealth Advisors LLC boosted its position in CVS Health by 35.8% during the fourth quarter. Lowe Wealth Advisors LLC now owns 383 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 101 shares during the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CVS traded up $0.26 during mid-day trading on Thursday, hitting $98.25. The stock had a trading volume of 4,912,038 shares, compared to its average volume of 6,429,308. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.62 and a current ratio of 0.88. The company has a 50 day moving average of $103.11 and a two-hundred day moving average of $100.94. CVS Health Co. has a twelve month low of $79.33 and a twelve month high of $111.25. The firm has a market cap of $128.84 billion, a PE ratio of 16.32, a PEG ratio of 1.60 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last posted its earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.08. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The business had revenue of $76.83 billion for the quarter, compared to analyst estimates of $75.30 billion. During the same period in the prior year, the company posted $2.04 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 8.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 22nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, April 21st. CVS Health’s dividend payout ratio is presently 36.54%.

CVS has been the topic of several research reports. StockNews.com started coverage on CVS Health in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Tigress Financial increased their target price on shares of CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Raymond James downgraded shares of CVS Health from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $120.00 in a research note on Friday, February 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CVS Health from $110.00 to $113.00 in a research report on Thursday, May 5th. Finally, BMO Capital Markets boosted their target price on CVS Health from $108.00 to $120.00 in a research note on Thursday, February 10th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Buy” and a consensus target price of $114.90.

In related news, EVP Prem S. Shah sold 4,624 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $106.65, for a total value of $493,149.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel P. Finke sold 55,359 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.13, for a total value of $5,543,096.67. Following the completion of the sale, the executive vice president now owns 3,098 shares of the company’s stock, valued at $310,202.74. The disclosure for this sale can be found here. Insiders sold a total of 82,283 shares of company stock worth $8,376,142 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

About CVS Health (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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