6,173 Shares in CVS Health Co. (NYSE:CVS) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. bought a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,173 shares of the pharmacy operator’s stock, valued at approximately $277,000.

Several other institutional investors have also made changes to their positions in CVS. Assetmark Inc. boosted its stake in CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC lifted its stake in CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the period. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the period. Principal Financial Group Inc. lifted its stake in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. lifted its stake in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial dropped their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Price Performance

NYSE:CVS opened at $52.72 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock’s 50-day simple moving average is $51.34 and its 200 day simple moving average is $56.32. The company has a market cap of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. CVS Health’s dividend payout ratio is currently 67.51%.

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.