Stonegate Investment Group LLC Buys 21,824 Shares of CVS Health Co. (NYSE:CVS)

Stonegate Investment Group LLC lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 712,726 shares of the pharmacy operator's stock after acquiring an additional 21,824 shares during the quarter. CVS Health accounts for about 1.8% of Stonegate Investment Group LLC's investment portfolio, making the stock its 19th largest holding. Stonegate Investment Group LLC owned 0.06% of CVS Health worth $56,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CVS. Norges Bank bought a new stake in CVS Health during the fourth quarter valued at approximately $1,092,040,000. Capital International Investors grew its position in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator's stock valued at $2,660,298,000 after buying an additional 10,837,801 shares during the period. FMR LLC lifted its holdings in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator's stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator's stock valued at $240,529,000 after purchasing an additional 2,297,100 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in CVS Health during the fourth quarter valued at approximately $111,209,000. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CVS Health 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 transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 price target on the stock. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They set an "outperform" rating and a $88.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of CVS Health from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, February 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Finally, 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 report on Friday, March 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.44.

CVS Health Price Performance

CVS traded up $0.28 during trading hours on Tuesday, hitting $67.73. The company's stock had a trading volume of 13,476,347 shares, compared to its average volume of 10,639,692. The business's 50-day moving average price is $74.05 and its 200-day moving average price is $73.62. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The stock has a market cap of $85.37 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analysts' expectations of $90.58 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. CVS Health's quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health's dividend payout ratio is presently 41.18%.

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.

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