New Jersey Better Educational Savings Trust Purchases Shares of 2,700 CVS Health Co. (NYSE:CVS)

New Jersey Better Educational Savings Trust purchased a new stake in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,700 shares of the pharmacy operator’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of CVS. SOA Wealth Advisors LLC. raised its stake in CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after buying an additional 133 shares during the period. Apella Capital LLC raised its stake in shares of CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC raised its stake in shares of CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after purchasing an additional 141 shares during the period. WealthShield Partners LLC raised its stake in shares of CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 142 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several analyst reports. Barclays initiated coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Royal Bank of Canada reduced their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Finally, Piper Sandler lifted their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.45 during midday trading on Thursday, reaching $67.32. The company’s stock had a trading volume of 8,915,583 shares, compared to its average volume of 10,708,336. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The business’s 50 day moving average price is $74.80 and its two-hundred day moving average price is $73.72. The company has a market cap of $84.86 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the business earned $1.99 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.95%. CVS Health’s payout ratio is 41.18%.

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.