Beaumont Financial Advisors LLC Invests $219,000 in CVS Health Co. (NYSE:CVS)

Beaumont Financial Advisors LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,778 shares of the pharmacy operator’s stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of CVS. Weik Capital Management lifted its holdings in shares of CVS Health by 0.7% in 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 lifted its stake 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 purchasing an additional 122 shares during the last quarter. Arvest Trust Co. N A boosted its position 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. SOA Wealth Advisors LLC. increased its holdings in shares of CVS Health by 4.9% during the fourth 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 in the last quarter. Finally, Apella Capital LLC boosted its holdings in shares of CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. Barclays began coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Piper Sandler boosted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Trading Up 1.5 %

Shares of CVS stock opened at $69.75 on Friday. The company has a market cap of $87.92 billion, a P/E ratio of 10.80, a PEG ratio of 0.92 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The stock has a 50 day simple moving average of $75.29 and a two-hundred day simple moving average of $73.74. 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 (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 EPS. Research analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. CVS Health’s dividend payout ratio is presently 41.18%.

CVS Health 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.