Affinity Investment Advisors LLC decreased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,132 shares of the pharmacy operator's stock after selling 3,722 shares during the period. Affinity Investment Advisors LLC's holdings in CVS Health were worth $551,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in CVS. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Costello Asset Management INC increased its holdings in shares of CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC bought a new stake in CVS Health during the 1st quarter valued at approximately $39,000. Park Square Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at approximately $43,000. Finally, GW&K Investment Management LLC boosted its stake in CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.
Insiders Place Their Bets
In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts recently weighed in on CVS shares. Truist Financial increased their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their target price for the company from $71.00 to $82.00 in a research note on Thursday. Finally, Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $75.68.
Check Out Our Latest Research Report on CVS
CVS Health Price Performance
CVS Health stock opened at $68.56 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The company has a market capitalization of $86.96 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.58. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The business has a 50 day simple moving average of $64.96 and a 200 day simple moving average of $64.67.
CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. During the same period last year, the firm posted $1.83 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Corporation 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 Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.
About CVS Health
(
Free Report)
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.
Further Reading
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