Leigh Baldwin & CO. LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

Leigh Baldwin & CO. LLC acquired a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 280,097 shares of the pharmacy operator's stock, valued at approximately $12,574,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in CVS Health during the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the fourth quarter valued at about $29,000. Financial Perspectives Inc raised its stake in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares during the last quarter. Compass Planning Associates Inc bought a new position in CVS Health during the 4th quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. grew its position in 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 purchasing an additional 437 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity

In related 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 value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, 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 the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This trade represents a 320.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.6%

CVS traded up $0.38 on Thursday, hitting $60.42. 11,209,003 shares of the company were exchanged, compared to its average volume of 11,447,893. The company has a market cap of $76.43 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The firm has a 50-day moving average price of $66.71 and a two-hundred day moving average price of $59.15. 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.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. On average, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVS. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird upped their price objective on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Finally, UBS Group boosted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.