Unique Wealth Strategies LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Unique Wealth Strategies LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 10,848 shares of the pharmacy operator’s stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its position in shares of CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock valued at $418,000 after buying an additional 1,112 shares in the last quarter. Advisory Alpha LLC increased its holdings in shares of CVS Health by 19.8% in the third quarter. Advisory Alpha LLC now owns 3,674 shares of the pharmacy operator’s stock worth $257,000 after acquiring an additional 606 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of CVS Health by 1.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 15,671 shares of the pharmacy operator’s stock worth $1,094,000 after purchasing an additional 257 shares during the period. Connecticut Wealth Management LLC lifted its holdings in shares of CVS Health by 34.6% during the 3rd quarter. Connecticut Wealth Management LLC now owns 8,843 shares of the pharmacy operator’s stock valued at $617,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in CVS Health by 78.5% during the 3rd quarter. Ballentine Partners LLC now owns 15,305 shares of the pharmacy operator’s stock worth $1,069,000 after purchasing an additional 6,733 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVS shares. Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Barclays started coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction 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 approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS traded down $0.15 during mid-day trading on Friday, reaching $67.18. The company’s stock had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a market cap of $84.68 billion, a P/E ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The business has a 50-day simple moving average of $74.42 and a two-hundred day simple moving average of $73.64.

CVS Health (NYSE:CVS) 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. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

CVS Health Company 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.