MeadowBrook Investment Advisors LLC Takes Position in CVS Health Co. (NYSE:CVS)

MeadowBrook Investment Advisors LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,537 shares of the pharmacy operator's stock, valued at approximately $1,148,000. CVS Health comprises 1.1% of MeadowBrook Investment Advisors LLC's holdings, making the stock its 27th largest position.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of CVS Health by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator's stock valued at $8,180,295,000 after purchasing an additional 485,744 shares during the last quarter. FMR LLC lifted its holdings in shares of CVS Health by 29.1% in the 3rd 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 during the last quarter. Northern Trust Corp lifted its holdings in shares of CVS Health by 2.2% in the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator's stock valued at $992,442,000 after purchasing an additional 305,564 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of CVS Health by 2.2% in the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator's stock valued at $987,041,000 after purchasing an additional 303,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,717,825 shares of the pharmacy operator's stock valued at $864,821,000 after purchasing an additional 324,391 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Edward J. Ludwig acquired 1,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the 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 completion of the sale, the executive vice president now owns 39,765 shares of the company's stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on CVS Health from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday. TD Cowen cut CVS Health from a "buy" rating to a "hold" rating and dropped their price target for the company from $99.00 to $59.00 in a research report on Tuesday. UBS Group cut CVS Health from a "buy" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Truist Financial restated a "buy" rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group dropped their target price on CVS Health from $85.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.55.

CVS Health Price Performance

CVS stock traded down $0.23 on Tuesday, reaching $55.74. The company had a trading volume of 17,144,275 shares, compared to its average volume of 11,872,880. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The company's fifty day moving average is $71.95 and its 200 day moving average is $73.09. The company has a market cap of $69.97 billion, a P/E ratio of 9.80, a PEG ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same period in the prior year, the company earned $2.20 EPS. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, April 19th. CVS Health's dividend payout ratio is presently 46.75%.

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.