Centric Wealth Management Purchases 211 Shares of CVS Health Co. (NYSE:CVS)

Centric Wealth Management boosted its holdings in CVS Health Co. (NYSE:CVS) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,275 shares of the pharmacy operator’s stock after purchasing an additional 211 shares during the period. Centric Wealth Management’s holdings in CVS Health were worth $1,074,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in CVS Health during the fourth quarter worth about $964,912,000. Boston Partners raised its position in shares of CVS Health by 259.0% in the fourth quarter. Boston Partners now owns 3,681,480 shares of the pharmacy operator’s stock worth $251,445,000 after buying an additional 2,656,101 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in CVS Health by 33.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,118,403 shares of the pharmacy operator’s stock worth $691,087,000 after buying an additional 2,525,912 shares in the last quarter. Lazard Asset Management LLC increased its stake in CVS Health by 50.6% in the 4th quarter. Lazard Asset Management LLC now owns 3,246,537 shares of the pharmacy operator’s stock worth $221,736,000 after acquiring an additional 1,090,493 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in shares of CVS Health by 341.3% in the 4th quarter. State of Tennessee Treasury Department now owns 1,166,106 shares of the pharmacy operator’s stock valued at $79,645,000 after acquiring an additional 901,845 shares in the last quarter. 74.21% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP James David Clark sold 5,350 shares of the stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $76.00, for a total transaction of $406,600.00. Also, Director Larry J. Merlo sold 270,650 shares of CVS Health stock in a transaction on Friday, March 26th. The stock was sold at an average price of $74.73, for a total transaction of $20,225,674.50. Following the transaction, the director now directly owns 794,676 shares of the company’s stock, valued at $59,386,137.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 543,362 shares of company stock worth $40,797,273. Insiders own 0.46% of the company’s stock.

CVS has been the topic of several research reports. Truist raised their price objective on shares of CVS Health from $80.00 to $88.00 in a research report on Wednesday. Truist Securities increased their price objective on CVS Health from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of CVS Health from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim restated a “neutral” rating on shares of CVS Health in a report on Tuesday, March 23rd. Finally, Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, January 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $84.31.

Shares of NYSE CVS traded up $0.29 during midday trading on Thursday, reaching $75.37. The stock had a trading volume of 49,392 shares, compared to its average volume of 6,880,655. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.95. CVS Health Co. has a 12-month low of $55.36 and a 12-month high of $77.23. The stock has a 50-day moving average of $72.88 and a 200-day moving average of $69.08. The company has a market capitalization of $98.84 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.72 and a beta of 0.82.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The company had revenue of $69.55 billion during the quarter, compared to analyst estimates of $68.67 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, analysts forecast that CVS Health Co. will post 7.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.65%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.

About CVS Health

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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