Farther Finance Advisors LLC Grows Holdings in CVS Health Co. (NYSE:CVS)

Farther Finance Advisors LLC lifted its position in shares of CVS Health Co. (NYSE:CVS) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,278 shares of the pharmacy operator’s stock after acquiring an additional 3,481 shares during the period. Farther Finance Advisors LLC’s holdings in CVS Health were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Dodge & Cox increased its position in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Capital World Investors increased its stake in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC increased its stake in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. Capital International Investors boosted its position in CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC boosted its position in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Mizuho boosted their price objective on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

CVS Health Trading Up 0.9%

NYSE CVS opened at $66.34 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a 50-day simple moving average of $65.16 and a 200 day simple moving average of $60.09. The company has a market capitalization of $83.92 billion, a PE ratio of 18.13, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. Research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.01%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

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.