Colrain Capital LLC Buys New Position in CVS Health Co. (NYSE:CVS)

Colrain Capital LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 86,350 shares of the pharmacy operator’s stock, valued at approximately $3,876,000. CVS Health comprises about 3.8% of Colrain Capital LLC’s portfolio, making the stock its 9th biggest position.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of CVS Health in the 4th quarter valued at about $839,574,000. Davis Selected Advisers grew its stake in CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of CVS Health in the fourth quarter valued at $116,033,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 0.7 %

Shares of NYSE:CVS opened at $67.13 on Monday. The business’s 50-day moving average is $62.12 and its 200-day moving average is $57.68. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $79.98. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, 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. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVS has been the topic of several analyst reports. UBS Group dropped their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $70.39.

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.