CVS Health Co. (NYSE:CVS) Position Boosted by InterOcean Capital Group LLC

InterOcean Capital Group LLC raised its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 96.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,386 shares of the pharmacy operator's stock after acquiring an additional 120,327 shares during the quarter. InterOcean Capital Group LLC's holdings in CVS Health were worth $19,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock valued at $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas grew its stake in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock valued at $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC grew its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator's stock valued at $39,000 after buying an additional 400 shares in the last quarter. Finally, Coston McIsaac & Partners grew its stake in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator's stock valued at $42,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.08 during trading hours on Tuesday, reaching $57.32. The stock had a trading volume of 16,750,350 shares, compared to its average volume of 11,974,052. The business's fifty day moving average is $68.69 and its two-hundred day moving average is $72.33. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market cap of $71.96 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.55 and a beta of 0.56. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health's dividend payout ratio (DPR) is 46.75%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVS. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Mizuho reduced their target price on CVS Health from $86.00 to $72.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Truist Financial restated a "buy" rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. StockNews.com lowered CVS Health from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. Finally, UBS Group lowered CVS Health from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $76.75.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

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.

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