AM Investment Strategies LLC Grows Position in CVS Health Co. (NYSE:CVS)

AM Investment Strategies LLC increased its position in shares of CVS Health Co. (NYSE:CVS) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,618 shares of the pharmacy operator’s stock after buying an additional 908 shares during the period. AM Investment Strategies LLC’s holdings in CVS Health were worth $602,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Motley Fool Asset Management LLC increased its stake in shares of CVS Health by 7.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 35,436 shares of the pharmacy operator’s stock worth $2,798,000 after buying an additional 2,423 shares during the period. Jackson Hole Capital Partners LLC boosted its holdings in CVS Health by 9.9% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 40,560 shares of the pharmacy operator’s stock valued at $3,203,000 after purchasing an additional 3,670 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new position in CVS Health in the fourth quarter valued at approximately $213,000. VCI Wealth Management LLC acquired a new position in CVS Health in the fourth quarter valued at approximately $936,000. Finally, Syon Capital LLC boosted its holdings in CVS Health by 43.7% in the fourth quarter. Syon Capital LLC now owns 10,720 shares of the pharmacy operator’s stock valued at $846,000 after purchasing an additional 3,262 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVS. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Barclays began coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Finally, Piper Sandler increased their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.45 during trading hours on Thursday, hitting $67.32. 8,915,583 shares of the company were exchanged, compared to its average volume of 10,708,336. The business has a 50-day moving average of $74.61 and a 200-day moving average of $73.67. The stock has a market capitalization of $84.86 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.91 and a beta of 0.52. 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 1 year low of $64.41 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 earnings per share. As a group, analysts expect that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

CVS Health Company 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.