1834 Investment Advisors Co. Boosts Stake in CVS Health Corporation (NYSE:CVS)

Key Points

• 1834 Investment Advisors Co. increased its stake in CVS Health Corporation by 4.7%, now holding 121,439 shares valued at approximately $8.2 million.
• CVS Health reported earnings of $1.81 per share for the last quarter, surpassing analysts' estimates of $1.46, with a revenue of $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, reflecting an annualized dividend yield of 4.2%.

1834 Investment Advisors Co. raised its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,439 shares of the pharmacy operator's stock after acquiring an additional 5,436 shares during the period. CVS Health makes up 1.1% of 1834 Investment Advisors Co.'s investment portfolio, making the stock its 26th largest position. 1834 Investment Advisors Co.'s holdings in CVS Health were worth $8,227,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CVS. Charles Schwab Investment Management Inc. raised its position in shares of CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after buying an additional 728,924 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in CVS Health in the first quarter valued at $9,030,000. Hemington Wealth Management raised its position in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares in the last quarter. WealthShield Partners LLC purchased a new stake in CVS Health during the first quarter valued at about $227,000. Finally, AXS Investments LLC bought a new stake in CVS Health during the first quarter worth about $251,000. Institutional investors own 80.66% of the company's stock.

Insider Activity

In related news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

CVS Health Trading Up 0.2%

NYSE CVS opened at $63.55 on Thursday. The stock has a market cap of $80.60 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a 50 day simple moving average of $64.63 and a two-hundred day simple moving average of $64.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. CVS Health's payout ratio is currently 74.30%.

Analyst Ratings Changes

CVS has been the topic of several recent research reports. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Mizuho lifted their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Finally, Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.11.

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.

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