3,932 Shares in CVS Health Co. (NYSE:CVS) Bought by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,932 shares of the pharmacy operator's stock, valued at approximately $266,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Butensky & Cohen Financial Security Inc. lifted its stake in shares of CVS Health by 8.0% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 51,720 shares of the pharmacy operator's stock worth $3,504,000 after buying an additional 3,810 shares in the last quarter. Pines Wealth Management LLC purchased a new position in shares of CVS Health in the first quarter worth about $340,000. SeaCrest Wealth Management LLC lifted its stake in shares of CVS Health by 4.4% in the first quarter. SeaCrest Wealth Management LLC now owns 8,136 shares of the pharmacy operator's stock worth $551,000 after buying an additional 344 shares in the last quarter. Procyon Advisors LLC purchased a new position in shares of CVS Health in the first quarter worth about $2,065,000. Finally, AGH Wealth Advisors LLC purchased a new position in shares of CVS Health in the first quarter worth about $230,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.8%

Shares of NYSE:CVS opened at $63.61 on Friday. The firm has a 50 day simple moving average of $65.21 and a 200-day simple moving average of $59.90. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a market capitalization of $80.47 billion, a PE ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.18%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analysts Set New Price Targets

CVS has been the subject of several recent analyst reports. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada lifted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Two research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.75.

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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