BCS Wealth Management Invests $270,000 in CVS Health Co. (NYSE:CVS)

BCS Wealth Management purchased a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,978 shares of the pharmacy operator's stock, valued at approximately $270,000.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC raised its position 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 buying an additional 174 shares during the period. Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after buying an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. raised its position in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after buying an additional 437 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.8%

CVS Health stock opened at $63.61 on Monday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The stock's fifty day simple moving average is $65.21 and its 200-day simple moving average is $59.94. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last issued its 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 the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. 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 4.18%. CVS Health's payout ratio is currently 63.48%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVS. Barclays set a $79.00 price target on shares of CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. Robert W. Baird boosted their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Company 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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