Silver Oak Securities Incorporated Boosts Stake in CVS Health Co. (NYSE:CVS)

Silver Oak Securities Incorporated increased its stake in shares of CVS Health Co. (NYSE:CVS) by 148.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,734 shares of the pharmacy operator’s stock after purchasing an additional 3,427 shares during the period. Silver Oak Securities Incorporated’s holdings in CVS Health were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CVS. Atticus Wealth Management LLC raised its position in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the last quarter. Coston McIsaac & Partners raised its holdings in CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in CVS Health in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVS. Piper Sandler increased their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Stock Performance

NYSE:CVS opened at $67.73 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The stock has a market capitalization of $85.37 billion, a P/E ratio of 10.48, a PEG ratio of 0.89 and a beta of 0.52. The company has a 50 day moving average price of $74.05 and a 200 day moving average price of $73.62. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter last year, the company posted $1.99 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.93%. CVS Health’s dividend payout ratio is presently 41.18%.

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.