Searle & CO. Has $2.04 Million Position in CVS Health Co. (NYSE:CVS)

Searle & CO. boosted its position in shares of CVS Health Co. (NYSE:CVS) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,880 shares of the pharmacy operator’s stock after purchasing an additional 400 shares during the quarter. Searle & CO.’s holdings in CVS Health were worth $2,044,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Wealth Quarterback LLC grew its holdings in CVS Health by 1.2% during the fourth quarter. Wealth Quarterback LLC now owns 10,015 shares of the pharmacy operator’s stock valued at $933,000 after purchasing an additional 119 shares during the period. Forte Capital LLC ADV grew its holdings in CVS Health by 1.4% during the fourth quarter. Forte Capital LLC ADV now owns 8,743 shares of the pharmacy operator’s stock valued at $815,000 after purchasing an additional 119 shares during the period. Weik Capital Management grew its holdings in CVS Health by 0.7% during the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock valued at $1,781,000 after purchasing an additional 120 shares during the period. FCA Corp TX grew its holdings in CVS Health by 0.6% during the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after purchasing an additional 122 shares during the period. Finally, Arvest Trust Co. N A lifted its stake in CVS Health by 1.2% in the fourth 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. Institutional investors and hedge funds own 75.99% of the company’s stock.

Insider Activity

In other news, SVP James David Clark sold 25,759 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total value of $1,929,864.28. Following the transaction, the senior vice president now directly owns 4,698 shares of the company’s stock, valued at $351,974.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVS. Wolfe Research raised shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday. Morgan Stanley cut their price target on shares of CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Mizuho cut their price target on shares of CVS Health from $120.00 to $88.00 in a research note on Tuesday, July 11th. Truist Financial cut their price target on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Finally, Edward Jones lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

CVS Health Stock Performance

CVS stock traded up $0.36 during trading hours on Wednesday, reaching $70.88. The stock had a trading volume of 4,523,766 shares, compared to its average volume of 9,099,135. The stock has a market capitalization of $91.04 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.86 and a quick ratio of 0.64. The stock has a 50-day simple moving average of $70.77 and a 200 day simple moving average of $72.05. CVS Health Co. has a fifty-two week low of $64.62 and a fifty-two week high of $104.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $88.92 billion during the quarter, compared to analysts’ expectations of $86.41 billion. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 earnings per share. Analysts predict that CVS Health Co. will post 8.61 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were given a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health’s payout ratio is presently 106.14%.

CVS Health Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The 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.