Cobblestone Capital Advisors LLC NY Grows Position in CVS Health Corporation (NYSE:CVS)

Key Points

• Cobblestone Capital Advisors LLC NY raised its stake in CVS Health Corporation by 11.6%, acquiring an additional 13,351 shares, which brings their total holdings to 128,278 shares worth approximately $8.69 million.
• CVS Health recently reported better-than-expected quarterly earnings with $1.81 earnings per share, surpassing analysts' estimates and achieving revenue of $98.92 billion.
• The company declared a $0.665 quarterly dividend, leading to an annualized yield of 4.1%, with a payout ratio of 74.30%.

Cobblestone Capital Advisors LLC NY grew its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,278 shares of the pharmacy operator's stock after buying an additional 13,351 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in CVS Health were worth $8,691,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after purchasing an additional 969,027 shares during the period. Dodge & Cox raised its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Capital World Investors raised its position in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Capital International Investors raised its position in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares during the period. Finally, Invesco Ltd. raised its position in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Barclays upped their target price on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Robert W. Baird increased their price target on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.11.

CVS Health Stock Performance

Shares of CVS stock traded down $0.64 on Monday, hitting $64.91. 5,554,636 shares of the stock were exchanged, compared to its average volume of 9,220,690. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $82.32 billion, a PE ratio of 18.13, a P/E/G ratio of 0.72 and a beta of 0.58. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The firm's 50 day moving average is $64.71 and its two-hundred day moving average is $64.45.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the company earned $1.83 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.1%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

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.