Ameriflex Group Inc. Acquires New Position in CVS Health Co. (NYSE:CVS)

Ameriflex Group Inc. bought a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,380 shares of the pharmacy operator's stock, valued at approximately $197,000.

A number of other large investors have also recently added to or reduced their stakes in CVS. Norges Bank bought a new position in CVS Health during the 4th quarter worth about $839,574,000. Capital World Investors increased its holdings in CVS Health by 26.6% during 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. Davis Selected Advisers increased its holdings in CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Dodge & Cox boosted its stake in shares of CVS Health by 11.2% during the 4th 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 last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of 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 buying an additional 6,475,271 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company restated 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, May 6th. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. UBS Group increased their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Three equities 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 an average target price of $74.94.

CVS Health Stock Performance

CVS stock traded up $1.06 during mid-day trading on Wednesday, hitting $62.40. 9,150,745 shares of the company were exchanged, compared to its average volume of 11,292,974. The business has a 50 day simple moving average of $65.76 and a 200-day simple moving average of $59.48. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $78.94 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.26%. CVS Health's payout ratio is 63.48%.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is owned by company insiders.

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.