Legacy Financial Advisors Inc. Makes New Investment in CVS Health Co. (NYSE:CVS)

Legacy Financial Advisors Inc. acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, Holdings Channel reports. The fund acquired 2,540 shares of the pharmacy operator’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sapient Capital LLC acquired a new stake in CVS Health during the 4th quarter worth about $1,454,000. Axxcess Wealth Management LLC boosted its holdings in shares of CVS Health by 5.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 21,767 shares of the pharmacy operator’s stock valued at $1,719,000 after acquiring an additional 1,215 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in CVS Health by 682.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 80,407 shares of the pharmacy operator’s stock worth $6,349,000 after acquiring an additional 70,137 shares in the last quarter. LSV Asset Management lifted its position in shares of CVS Health by 4.8% during the 4th quarter. LSV Asset Management now owns 5,964,887 shares of the pharmacy operator’s stock valued at $470,987,000 after acquiring an additional 275,512 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in CVS Health by 7.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 66,401 shares of the pharmacy operator’s stock worth $5,243,000 after acquiring an additional 4,476 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. The Goldman Sachs Group decreased their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada dropped their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.35.

CVS Health Price Performance

CVS opened at $56.07 on Monday. 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 firm has a market cap of $70.39 billion, a P/E ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.56. The firm has a 50-day moving average of $72.77 and a 200 day moving average of $73.29. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was 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 filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

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.