Dimension Capital Management LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Dimension Capital Management LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,624 shares of the pharmacy operator's stock, valued at approximately $342,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Collar Capital Management LLC bought a new stake in shares of CVS Health during the 4th quarter valued at about $520,000. CoreCap Advisors LLC increased its holdings in shares of CVS Health by 18.6% in the 4th quarter. CoreCap Advisors LLC now owns 4,328 shares of the pharmacy operator's stock worth $194,000 after buying an additional 679 shares during the last quarter. Cetera Investment Advisers raised its position in CVS Health by 2.1% during the fourth quarter. Cetera Investment Advisers now owns 318,779 shares of the pharmacy operator's stock valued at $14,310,000 after purchasing an additional 6,524 shares during the period. Bontempo Ohly Capital Mgmt LLC boosted its stake in shares of CVS Health by 1.8% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 52,595 shares of the pharmacy operator's stock worth $2,361,000 after purchasing an additional 932 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of CVS Health in the fourth quarter worth about $1,134,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.87 on Friday, hitting $66.98. The company had a trading volume of 6,356,260 shares, compared to its average volume of 11,412,073. The company has a market cap of $84.45 billion, a PE ratio of 18.30, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business has a 50-day simple moving average of $66.96 and a 200-day simple moving average of $59.03.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the business posted $1.31 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVS. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up from $76.00) on shares of CVS Health in a research note on Tuesday. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Truist Financial lifted their price objective on CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, StockNews.com upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.81.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company's stock.

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.