Parr Mcknight Wealth Management Group LLC Takes Position in CVS Health Co. (NYSE:CVS)

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,824 shares of the pharmacy operator's stock, valued at approximately $217,000.

Other large investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in CVS Health in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC raised its holdings in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its holdings in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Barclays increased their price target on CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Finally, Truist Financial raised their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.94.

CVS Health Stock Performance

CVS stock traded up $1.29 during trading on Friday, reaching $64.07. 3,393,129 shares of the stock were exchanged, compared to its average volume of 11,238,961. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. 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 company has a market capitalization of $81.04 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The stock has a 50 day simple moving average of $65.67 and a 200-day simple moving average of $59.53.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $93.07 billion. During the same quarter in the prior year, the company posted $1.31 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued 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 4.15%. CVS Health's payout ratio is presently 63.48%.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is owned by corporate insiders.

CVS Health Company 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.