CVS Health Corporation (NYSE:CVS) Stake Boosted by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 150.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,915 shares of the pharmacy operator's stock after buying an additional 29,975 shares during the period. Bleakley Financial Group LLC's holdings in CVS Health were worth $3,382,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. ELCO Management Co. LLC purchased a new position in shares of CVS Health in the 1st quarter worth about $241,000. LRI Investments LLC increased its position in CVS Health by 54.5% during the 1st quarter. LRI Investments LLC now owns 14,151 shares of the pharmacy operator's stock worth $959,000 after purchasing an additional 4,989 shares in the last quarter. Asset Dedication LLC raised its holdings in CVS Health by 35.1% in the first quarter. Asset Dedication LLC now owns 2,187 shares of the pharmacy operator's stock valued at $148,000 after buying an additional 568 shares during the period. CWM LLC lifted its position in CVS Health by 155.2% during the first quarter. CWM LLC now owns 103,804 shares of the pharmacy operator's stock valued at $7,033,000 after buying an additional 63,121 shares in the last quarter. Finally, Westmount Partners LLC acquired a new position in CVS Health during the first quarter valued at approximately $237,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction 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 purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Stock Down 0.2%

CVS stock traded down $0.14 during mid-day trading on Wednesday, hitting $63.80. 5,828,374 shares of the company were exchanged, compared to its average volume of 10,774,139. The firm has a fifty day simple moving average of $64.89 and a 200 day simple moving average of $62.63. The company has a market capitalization of $80.70 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. 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 (NYSE:CVS - Get Free Report) last posted 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 business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 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 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. On average, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Jefferies Financial Group boosted their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Robert W. Baird raised their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Two equities research 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 company. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $75.06.

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.