Horizon Investments LLC Has $1.61 Million Position in CVS Health Co. (NYSE:CVS)

Horizon Investments LLC increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,227 shares of the pharmacy operator’s stock after purchasing an additional 784 shares during the period. Horizon Investments LLC’s holdings in CVS Health were worth $1,606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health in the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new stake in CVS Health in the 3rd quarter worth $40,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of CVS Health during the 4th quarter worth about $29,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $67.84 on Thursday. The business has a fifty day moving average of $59.76 and a 200-day moving average of $57.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The firm has a market cap of $85.53 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. CVS Health’s payout ratio is 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVS. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Truist Financial upped their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, UBS Group reduced their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

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.