Michels Family Financial LLC Purchases New Stake in CVS Health Co. (NYSE:CVS)

Michels Family Financial LLC acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 10,111 shares of the pharmacy operator's stock, valued at approximately $454,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Whitebox Advisors LLC bought a new position in CVS Health during the 4th quarter worth $249,000. B&D White Capital Company LLC bought a new position in CVS Health during the fourth quarter worth about $417,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in CVS Health in the 4th quarter worth about $121,742,000. Lazard Asset Management LLC boosted its holdings in CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock valued at $192,617,000 after purchasing an additional 293,406 shares during the period. Finally, Seizert Capital Partners LLC grew its position in shares of CVS Health by 22.8% during the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock worth $25,566,000 after purchasing an additional 105,708 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.22% of the company's stock.

CVS Health Trading Up 0.4%

NYSE CVS traded up $0.22 on Thursday, reaching $62.67. The company had a trading volume of 5,047,476 shares, compared to its average volume of 11,268,914. The firm has a market cap of $79.28 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The business has a 50 day moving average of $65.76 and a two-hundred day moving average of $59.48.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating 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%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company 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 of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.24%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Argus set a $77.00 price target on CVS Health in a research report on Tuesday, February 18th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Robert W. Baird upped their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Finally, 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, May 6th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.94.

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.