Larson Financial Group LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Larson Financial Group LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 874.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,452 shares of the pharmacy operator’s stock after acquiring an additional 5,790 shares during the period. Larson Financial Group LLC’s holdings in CVS Health were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares during the period. International Assets Investment Management LLC raised its position in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of CVS Health by 49.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after purchasing an additional 698,054 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after purchasing an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth about $34,379,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Piper Sandler increased their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $68.50 on Wednesday. The stock has a market cap of $86.34 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a fifty day simple moving average of $74.97 and a 200-day simple moving average of $73.76. 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 Co. has a 12-month low of $64.41 and a 12-month high of $83.25.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.88%. CVS Health’s payout ratio is currently 41.18%.

CVS Health 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.