Allen Capital Group LLC Buys New Stake in CVS Health Corporation (NYSE:CVS)

Allen Capital Group LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,443 shares of the pharmacy operator's stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC purchased a new position in shares of CVS Health during the 4th quarter valued at $6,233,000. Cibc World Markets Corp lifted its stake in shares of CVS Health by 16.4% in the 4th quarter. Cibc World Markets Corp now owns 198,542 shares of the pharmacy operator's stock valued at $8,913,000 after purchasing an additional 27,985 shares during the last quarter. Cozad Asset Management Inc. lifted its stake in shares of CVS Health by 3.7% in the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator's stock valued at $293,000 after purchasing an additional 233 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of CVS Health by 4.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 95,518 shares of the pharmacy operator's stock valued at $4,380,000 after purchasing an additional 4,463 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of CVS Health by 41.6% in the 4th quarter. Advisors Asset Management Inc. now owns 189,208 shares of the pharmacy operator's stock valued at $8,494,000 after purchasing an additional 55,542 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVS shares. Jefferies Financial Group lifted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Mizuho boosted their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Two 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $75.06.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price 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 $764,845.90. The trade was a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS traded down $1.36 during trading hours on Friday, reaching $61.94. 8,610,279 shares of the company traded hands, compared to its average volume of 10,745,483. The stock's fifty day moving average is $64.80 and its 200 day moving average is $62.76. The stock has a market cap of $78.36 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.29%. CVS Health's payout ratio is currently 63.48%.

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.