Leigh Baldwin & CO. LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Leigh Baldwin & CO. LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,240 shares of the pharmacy operator's stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dodge & Cox lifted its holdings in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Capital World Investors boosted its holdings in shares of 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 acquiring an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after acquiring an additional 689,867 shares during the last quarter. Capital International Investors raised its stake in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after buying an additional 1,212,126 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were 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 of the company's stock, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Barclays increased their target price on shares of CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Truist Financial raised their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $74.94.

CVS Health Price Performance

NYSE:CVS traded up $0.27 during trading hours on Thursday, reaching $62.72. 10,632,833 shares of the company were exchanged, compared to its average volume of 11,290,342. 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 Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The firm has a market cap of $79.34 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The stock's 50-day moving average is $65.76 and its 200-day moving average is $59.48.

CVS Health (NYSE:CVS - Get Free Report) last released 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 analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.24%. CVS Health's dividend payout ratio is currently 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.