Cornercap Investment Counsel Inc. Takes $2.01 Million Position in CVS Health Corporation (NYSE:CVS)

Cornercap Investment Counsel Inc. bought a new stake 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 fund bought 29,689 shares of the pharmacy operator's stock, valued at approximately $2,011,000. CVS Health comprises approximately 1.1% of Cornercap Investment Counsel Inc.'s investment portfolio, making the stock its 12th biggest holding.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in CVS Health in the 4th quarter valued at $839,574,000. Capital World Investors grew its position in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the last quarter. Dodge & Cox grew its position in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the last quarter. Invesco Ltd. grew its position in CVS Health by 30.1% in the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after acquiring an additional 4,173,243 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new position in shares of CVS Health during the 4th quarter worth $121,742,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Barclays set a $79.00 price target on CVS Health and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Royal Bank Of Canada increased their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $75.06.

CVS Health Trading Down 0.6%

CVS Health stock opened at $64.36 on Tuesday. The stock has a 50-day moving average of $64.99 and a two-hundred day moving average of $62.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock has a market cap of $81.42 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

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.

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