Gotham Asset Management LLC Acquires 125,434 Shares of CVS Health Co. (NYSE:CVS)

Gotham Asset Management LLC raised its position in CVS Health Co. (NYSE:CVS - Free Report) by 119.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,533 shares of the pharmacy operator's stock after purchasing an additional 125,434 shares during the period. Gotham Asset Management LLC's holdings in CVS Health were worth $10,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter worth approximately $29,000. Financial Perspectives Inc raised its stake in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Compass Planning Associates Inc bought a new stake in CVS Health during the fourth quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. increased its holdings in shares of CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after buying an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVS. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Royal Bank of Canada upped their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. StockNews.com upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Three equities 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 company. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Trading Up 0.6%

CVS traded up $0.38 during midday trading on Thursday, reaching $60.42. 11,209,003 shares of the company's stock traded hands, compared to its average volume of 11,467,734. The stock has a market capitalization of $76.43 billion, a price-to-earnings ratio of 16.51, a P/E/G 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 has a fifty day moving average of $66.71 and a two-hundred day moving average of $59.15. 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business'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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company's stock.

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.