Bryce Point Capital LLC Buys Shares of 12,460 CVS Health Corporation (NYSE:CVS)

Key Points

• Bryce Point Capital LLC made a new investment of approximately $810,000 in CVS Health, acquiring 12,460 shares during the first quarter.
• CVS Health has been upgraded by several analysts, with Wells Fargo raising its price target to $84.00, reflecting a rising trend in analyst confidence for the stock.
• The company recently announced a quarterly dividend of $0.665 per share, yielding 4.38%, which will be paid to shareholders on August 1st.

Bryce Point Capital LLC acquired a new position in shares of 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 and Exchange Commission. The firm acquired 12,460 shares of the pharmacy operator's stock, valued at approximately $810,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox lifted its stake in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares in the last quarter. Capital World Investors lifted its stake in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC lifted its stake in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after buying an additional 689,867 shares in the last quarter. Capital International Investors lifted its stake in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in CVS Health by 30.1% in the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after buying an additional 4,173,243 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CVS shares. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. 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 research report on Tuesday, May 6th. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Bernstein Bank cut their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group cut their price objective on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. 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 company's stock. According to data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $74.67.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by company insiders.

CVS Health Trading Up 1.3%

NYSE CVS traded up $0.83 during trading hours on Thursday, reaching $63.13. The company's stock had a trading volume of 20,152,665 shares, compared to its average volume of 10,125,262. The stock has a market cap of $79.86 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.86 and a beta of 0.57. The firm has a fifty day simple moving average of $64.48 and a 200-day simple moving average of $63.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. Equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 4.21%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 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.