Parkside Investments LLC Purchases 20,407 Shares of CVS Health Co. (NYSE:CVS)

Parkside Investments LLC raised its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,084 shares of the pharmacy operator's stock after purchasing an additional 20,407 shares during the period. Parkside Investments LLC's holdings in CVS Health were worth $5,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC boosted its stake in shares of 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 purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc increased its position in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. lifted its holdings in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after buying an additional 437 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 1.6%

CVS stock traded up $1.07 during mid-day trading on Friday, reaching $67.42. 7,560,954 shares of the company traded hands, compared to its average volume of 10,981,603. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm's 50 day moving average price is $65.15 and its 200 day moving average price is $60.15. The stock has a market cap of $85.29 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.56. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The business 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 9.11% and a net margin of 1.24%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.95%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. UBS Group raised their target price on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction dated 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 purchase, the director now directly owns 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company's stock.

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.