MetLife Investment Advisors LLC Has $24.23 Million Position in CVS Health Corp (CVS)

MetLife Investment Advisors LLC increased its holdings in CVS Health Corp (NYSE:CVS) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 369,819 shares of the pharmacy operator’s stock after buying an additional 73,661 shares during the period. MetLife Investment Advisors LLC’s holdings in CVS Health were worth $24,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bell Rock Capital LLC boosted its holdings in CVS Health by 764.0% in the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares during the period. Daiwa SB Investments Ltd. purchased a new stake in shares of CVS Health during the 4th quarter valued at $30,000. Acima Private Wealth LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at $33,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at $39,000. Finally, Cornerstone Advisors Inc. raised its position in shares of CVS Health by 71.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after buying an additional 212 shares in the last quarter. 81.55% of the stock is owned by institutional investors.

In related news, COO Jonathan C. Roberts sold 77,639 shares of CVS Health stock in a transaction on Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David W. Dorman bought 9,600 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the transaction, the director now owns 122,302 shares in the company, valued at $6,446,538.42. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. 0.53% of the stock is owned by company insiders.

Several analysts have recently weighed in on the stock. CIBC restated a “market perform” rating on shares of CVS Health in a research report on Monday. SunTrust Banks lowered their price objective on shares of CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. BMO Capital Markets assumed coverage on shares of CVS Health in a research report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 price objective on the stock. Barclays set a $73.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Oppenheimer cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.61.

Shares of NYSE:CVS opened at $53.90 on Wednesday. The firm has a market capitalization of $70.40 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94. CVS Health Corp has a 52 week low of $51.77 and a 52 week high of $82.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.65 and a current ratio of 1.03.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. The company had revenue of $54.42 billion for the quarter, compared to analysts’ expectations of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 EPS. As a group, equities analysts forecast that CVS Health Corp will post 6.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s payout ratio is presently 28.25%.

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CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

Further Reading: Quiet Period

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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