CapWealth Advisors LLC Buys 23,877 Shares of CVS Health Corporation (NYSE:CVS)

CapWealth Advisors LLC boosted its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 361,854 shares of the pharmacy operator's stock after acquiring an additional 23,877 shares during the quarter. CVS Health comprises 2.7% of CapWealth Advisors LLC's holdings, making the stock its 11th largest holding. CapWealth Advisors LLC's holdings in CVS Health were worth $24,516,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Essex Financial Services Inc. increased its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares during the period. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% in the fourth 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. Koshinski Asset Management Inc. lifted its holdings in CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after buying an additional 178 shares during the period. Horizon Bancorp Inc. IN increased its stake in CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after purchasing an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after purchasing an additional 189 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.29 during mid-day trading on Wednesday, reaching $66.65. 6,329,968 shares of the company were exchanged, compared to its average volume of 10,816,935. The company's 50-day simple moving average is $65.18 and its 200-day simple moving average is $61.90. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $84.31 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.96 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.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter last year, the company posted $1.31 EPS. CVS Health's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio is 63.48%.

Insider Buying and Selling

In other news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group increased their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.