56,249 Shares in CVS Health Co. (NYSE:CVS) Acquired by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 56,249 shares of the pharmacy operator's stock, valued at approximately $2,525,000. CVS Health comprises approximately 1.1% of Wealthedge Investment Advisors LLC's holdings, making the stock its 21st biggest position.

Other institutional investors have also recently made changes to their positions in the company. Siemens Fonds Invest GmbH raised its position in CVS Health by 2.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 65,188 shares of the pharmacy operator's stock worth $2,864,000 after acquiring an additional 1,639 shares during the period. Park Square Financial Group LLC bought a new position in CVS Health in the fourth quarter worth approximately $43,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CVS Health in the fourth quarter worth approximately $31,371,000. Employees Retirement System of Texas raised its position in CVS Health by 33.8% in the fourth quarter. Employees Retirement System of Texas now owns 154,600 shares of the pharmacy operator's stock worth $6,940,000 after acquiring an additional 39,060 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in CVS Health in the fourth quarter worth approximately $185,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the company's 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 owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus target price of $74.94.

CVS Health Trading Up 1.9%

NYSE:CVS traded up $1.21 during mid-day trading on Friday, hitting $63.99. 13,306,917 shares of the stock traded hands, compared to its average volume of 11,257,952. The stock has a market capitalization of $80.95 billion, a price-to-earnings ratio of 17.48, 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 firm's 50 day moving average is $65.62 and its two-hundred day moving average is $59.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 EPS. On average, equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 annualized dividend and a yield of 4.16%. CVS Health's dividend payout ratio (DPR) is 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.