Wealthfront Advisers LLC Increases Stock Holdings in CVS Health Corp (NYSE:CVS)

Wealthfront Advisers LLC boosted its position in shares of CVS Health Corp (NYSE:CVS) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,981 shares of the pharmacy operator’s stock after purchasing an additional 2,671 shares during the period. Wealthfront Advisers LLC’s holdings in CVS Health were worth $3,267,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 1 North Wealth Services LLC acquired a new stake in CVS Health in the 3rd quarter valued at about $29,000. Manchester Financial Inc. acquired a new stake in CVS Health in the 4th quarter valued at about $35,000. Gradient Investments LLC raised its position in shares of CVS Health by 78.3% during the 3rd quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 271 shares in the last quarter. Cordasco Financial Network purchased a new position in CVS Health during the 3rd quarter worth approximately $44,000. Finally, Allred Capital Management LLC purchased a new position in CVS Health during the 4th quarter worth approximately $55,000. Institutional investors own 76.67% of the company’s stock.

In other news, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the transaction, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Karen S. Lynch sold 80,143 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the completion of the transaction, the executive vice president now directly owns 41,831 shares of the company’s stock, valued at $3,137,325. The disclosure for this sale can be found here. Over the last three months, insiders sold 427,786 shares of company stock valued at $31,726,338. Insiders own 0.53% of the company’s stock.

A number of research analysts recently issued reports on the company. Raymond James restated a “strong-buy” rating and set a $90.00 price target (up previously from $80.00) on shares of CVS Health in a research note on Wednesday, December 4th. Morgan Stanley lifted their target price on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Mizuho lifted their target price on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Cowen set a $76.00 target price on CVS Health and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, SunTrust Banks lifted their price target on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. CVS Health has an average rating of “Buy” and an average price target of $77.43.

Shares of CVS stock opened at $74.59 on Wednesday. The stock has a fifty day moving average price of $74.19 and a 200 day moving average price of $65.96. The stock has a market cap of $98.90 billion, a PE ratio of 22.07, a P/E/G ratio of 1.62 and a beta of 0.89. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $77.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. As a group, equities research analysts predict that CVS Health Corp will post 7.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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