Concurrent Investment Advisors LLC Sells 33,826 Shares of CVS Health Corporation (NYSE:CVS)

Concurrent Investment Advisors LLC decreased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 71.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,422 shares of the pharmacy operator's stock after selling 33,826 shares during the period. Concurrent Investment Advisors LLC's holdings in CVS Health were worth $909,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter valued at about $29,000. McIlrath & Eck LLC grew its stake in CVS Health by 32.6% in 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 last quarter. Park Square Financial Group LLC bought a new position in CVS Health in the 4th quarter valued at about $43,000. PARK CIRCLE Co lifted its position in CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in shares of CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.4%

NYSE CVS traded down $0.29 on Wednesday, reaching $66.65. The company had a trading volume of 6,329,968 shares, compared to its average volume of 10,809,033. The firm has a market cap of $84.31 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.95 and a beta of 0.57. 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 fifty-two week low of $43.56 and a fifty-two week high of $72.51. The business has a 50 day moving average of $65.18 and a two-hundred day moving average of $61.90.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data 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. The company 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. Analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.99%. CVS Health's dividend payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. UBS Group upped their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Robert W. Baird increased their target price 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. Finally, Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.22% of the company's stock.

About CVS Health

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.