Alpha Omega Wealth Management LLC Has $10.09 Million Stock Position in CVS Health Co. (NYSE:CVS)

Alpha Omega Wealth Management LLC lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,919 shares of the pharmacy operator's stock after purchasing an additional 27,875 shares during the period. CVS Health makes up 1.9% of Alpha Omega Wealth Management LLC's investment portfolio, making the stock its 8th largest holding. Alpha Omega Wealth Management LLC's holdings in CVS Health were worth $10,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of CVS Health in the 4th quarter worth approximately $839,574,000. Capital World Investors boosted its position in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Dodge & Cox raised its stake in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVS. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Wells Fargo & Company restated an "overweight" rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Mizuho raised 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. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Stock Up 0.9%

NYSE CVS traded up $0.62 during trading hours on Thursday, hitting $66.34. The company had a trading volume of 6,562,248 shares, compared to its average volume of 11,007,901. The firm's 50 day moving average is $65.16 and its 200 day moving average is $60.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a market capitalization of $83.92 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last announced its 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 return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the business posted $1.31 EPS. The company's revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now directly owns 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health 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.