Poplar Forest Capital LLC Acquires 78,956 Shares of CVS Health Corporation (NYSE:CVS)

Poplar Forest Capital LLC grew its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 463,096 shares of the pharmacy operator's stock after buying an additional 78,956 shares during the quarter. CVS Health accounts for approximately 5.6% of Poplar Forest Capital LLC's holdings, making the stock its 2nd biggest holding. Poplar Forest Capital LLC's holdings in CVS Health were worth $31,375,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVS. SYM FINANCIAL Corp acquired a new stake in shares of CVS Health during the 1st quarter worth about $346,000. Quadrant Private Wealth Management LLC acquired a new stake in CVS Health in the 1st quarter valued at about $241,000. Summit Asset Management LLC acquired a new stake in CVS Health in the 1st quarter valued at about $239,000. Bank Julius Baer & Co. Ltd Zurich increased its position in CVS Health by 242.4% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,904 shares of the pharmacy operator's stock valued at $129,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in CVS Health by 1.4% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 708,479 shares of the pharmacy operator's stock valued at $47,999,000 after acquiring an additional 9,634 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 4.9%

CVS Health stock traded down $3.03 during midday trading on Thursday, hitting $58.82. 12,429,501 shares of the stock were exchanged, compared to its average volume of 10,014,127. The company has a fifty day simple moving average of $64.68 and a two-hundred day simple moving average of $63.22. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market capitalization of $74.41 billion, a PE ratio of 14.04, a P/E/G ratio of 0.87 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.52%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Insider Buying and Selling

In related news, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Barclays set a $79.00 price objective on shares of CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. UBS Group reduced their target price on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Tuesday. Robert W. Baird raised their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.82.

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.