Frisch Financial Group Inc. Purchases Shares of 6,706 CVS Health Co. (NYSE:CVS)

Frisch Financial Group Inc. bought a new stake in shares of CVS Health Co. (NYSE:CVSFree Report) in the 3rd quarter, HoldingsChannel reports. The fund bought 6,706 shares of the pharmacy operator’s stock, valued at approximately $468,000.

Several other institutional investors have also modified their holdings of the company. Weik Capital Management grew its position in shares of CVS Health by 0.7% during the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after acquiring an additional 120 shares during the last quarter. FCA Corp TX grew its position in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after buying an additional 122 shares in the last quarter. Arvest Trust Co. N A grew its position in CVS Health by 1.2% in the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after buying an additional 131 shares in the last quarter. Retirement Planning Co of New England Inc. grew its position in CVS Health by 0.5% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 29,160 shares of the pharmacy operator’s stock valued at $2,016,000 after buying an additional 141 shares in the last quarter. Finally, Principal Street Partners LLC grew its position in CVS Health by 5.8% in the 4th quarter. Principal Street Partners LLC now owns 2,678 shares of the pharmacy operator’s stock valued at $250,000 after buying an additional 146 shares in the last quarter. Institutional investors own 75.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research report on Thursday, February 8th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley decreased their target price on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday. Finally, TheStreet raised shares of CVS Health from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Check Out Our Latest Analysis on CVS

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

CVS Health Stock Down 1.4 %

Shares of CVS traded down $1.05 during trading hours on Wednesday, reaching $75.22. The company’s stock had a trading volume of 6,781,834 shares, compared to its average volume of 12,416,745. The firm has a market cap of $94.66 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.75 and a beta of 0.50. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.26. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $76.75 and a two-hundred day moving average of $72.18.

CVS Health (NYSE:CVSGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Monday, January 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Friday, January 19th. This is an increase from CVS Health’s previous quarterly dividend of $0.61. CVS Health’s dividend payout ratio (DPR) is 41.18%.

CVS Health Profile

(Free Report)

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.

See Also

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

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