Rhumbline Advisers Purchases 35,026 Shares of CVS Health Co. (NYSE:CVS)

Rhumbline Advisers increased its position in CVS Health Co. (NYSE:CVS) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,652,428 shares of the pharmacy operator’s stock after purchasing an additional 35,026 shares during the period. Rhumbline Advisers owned approximately 0.21% of CVS Health worth $119,067,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. ABC Arbitrage SA bought a new position in shares of CVS Health in the 4th quarter worth $1,191,000. Valeo Financial Advisors LLC raised its position in CVS Health by 1.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 28,957 shares of the pharmacy operator’s stock valued at $1,300,000 after buying an additional 500 shares during the last quarter. V Square Quantitative Management LLC raised its position in CVS Health by 16.4% in the 4th quarter. V Square Quantitative Management LLC now owns 18,347 shares of the pharmacy operator’s stock valued at $824,000 after buying an additional 2,586 shares during the last quarter. Root Financial Partners LLC purchased a new stake in CVS Health in the 4th quarter valued at $248,000. Finally, MidAtlantic Capital Management Inc. raised its position in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Down 1.0 %

Shares of NYSE CVS opened at $65.71 on Friday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The business has a 50-day simple moving average of $51.11 and a two-hundred day simple moving average of $56.08. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Research analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVS shares. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays raised their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Four 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.28.

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.