Arkadios Wealth Advisors Purchases 10,300 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• Arkadios Wealth Advisors increased its stake in CVS Health Corporation by 33.7% after purchasing an additional 10,300 shares, bringing its total holdings to 40,907 shares valued at approximately $2.77 million.
• CVS Health has recently received multiple analyst upgrades, with Jefferies Financial Group raising its price target from $74.00 to $80.00 and Wells Fargo increasing its target to $84.00, reflecting a consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.665 per share, which indicates a yield of 4.3%, with the dividend payout ratio currently at 63.48%.

Arkadios Wealth Advisors raised its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 33.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,907 shares of the pharmacy operator's stock after purchasing an additional 10,300 shares during the period. Arkadios Wealth Advisors' holdings in CVS Health were worth $2,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% in 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 period. Park Square Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth about $43,000. GW&K Investment Management LLC lifted its position 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 worth $43,000 after acquiring an additional 180 shares during the period. PARK CIRCLE Co lifted its position in CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the period. Finally, Strategic Investment Solutions Inc. IL lifted its position in CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVS. Jefferies Financial Group lifted their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Robert W. Baird boosted their price objective on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.67.

Insider Activity

In other news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company's stock.

CVS Health Stock Down 0.3%

Shares of NYSE CVS opened at $62.11 on Friday. The stock has a market cap of $78.57 billion, a P/E ratio of 14.82, a PEG ratio of 0.89 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The business's fifty day simple moving average is $64.52 and its 200-day simple moving average is $63.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.83 earnings per share. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.3%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

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.

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