CVS Health Co. (NYSE:CVS) Shares Bought by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management lifted its position in shares of CVS Health Co. (NYSE:CVS) by 20,775.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 835 shares of the pharmacy operator’s stock after acquiring an additional 831 shares during the period. Spartan Planning & Wealth Management’s holdings in CVS Health were worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Atticus Wealth Management LLC increased its holdings in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas increased its stake in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the 4th quarter worth about $34,000. Scarborough Advisors LLC purchased a new position in CVS Health in the 4th quarter valued at about $37,000. Finally, ZRC Wealth Management LLC boosted its holdings in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVS shares. JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research note on Wednesday, June 12th. Robert W. Baird assumed coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.05.

CVS Health Stock Performance

Shares of CVS Health stock opened at $61.10 on Tuesday. The business has a 50-day simple moving average of $61.24 and a 200-day simple moving average of $70.90. The company has a market cap of $76.70 billion, a PE ratio of 10.74, a P/E/G ratio of 0.57 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.