Axxcess Wealth Management LLC Acquires Shares of 10,256 CVS Health Corporation (NYSE:CVS)

Axxcess Wealth Management LLC purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,256 shares of the pharmacy operator's stock, valued at approximately $695,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the period. Sierra Ocean LLC increased its holdings in CVS Health by 584.8% during the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after acquiring an additional 614 shares during the period. MV Capital Management Inc. increased its holdings in CVS Health by 63.9% during the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after acquiring an additional 289 shares during the period. Dunhill Financial LLC increased its holdings in CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock worth $51,000 after acquiring an additional 446 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in CVS Health during the 1st quarter worth approximately $54,000. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of CVS stock traded down $0.89 during trading hours on Friday, reaching $64.73. The company had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The business has a fifty day moving average price of $65.05 and a 200-day moving average price of $62.35. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The firm has a market cap of $81.88 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.93 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm 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 business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. Sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared 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 is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.11%. CVS Health's dividend payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Royal Bank Of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Robert W. Baird lifted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

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.