RWA Wealth Partners LLC Acquires 12,217 Shares of CVS Health Co. (NYSE:CVS)

RWA Wealth Partners LLC increased its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,952 shares of the pharmacy operator's stock after purchasing an additional 12,217 shares during the quarter. RWA Wealth Partners LLC's holdings in CVS Health were worth $5,050,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock worth $29,000 after purchasing an additional 219 shares during the period. Cornerstone Planning Group LLC raised its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 243 shares in the last quarter. ZRC Wealth Management LLC raised its position in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 400 shares in the last quarter. Coston McIsaac & Partners raised its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in CVS Health during the fourth quarter valued at approximately $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVS. Barclays began coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 price objective on the stock. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, February 8th. StockNews.com lowered shares of CVS Health from a "buy" rating to a "hold" rating in a research report on Thursday, February 15th. Piper Sandler lifted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $89.44.

CVS Health Stock Performance

CVS traded down $1.13 during trading on Tuesday, reaching $68.50. 8,441,734 shares of the company's stock were exchanged, compared to its average volume of 10,757,553. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $74.97 and a 200 day moving average price of $73.76. The company has a market capitalization of $86.34 billion, a P/E ratio of 10.60, a PEG ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the previous year, the company earned $1.99 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. CVS Health's dividend payout ratio is presently 41.18%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% 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.