CVS Health Corporation (NYSE:CVS) Shares Acquired by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in CVS Health Corporation by 7.7% during Q1, holding 80,410 shares valued at approximately $5.45 million.
• CVS Health reported $1.81 EPS for the quarter, surpassing analysts' expectations of $1.46, with an 8.4% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.665 per share, reflecting a 4.3% yield based on a 74.30% payout ratio.

New Age Alpha Advisors LLC lifted its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,410 shares of the pharmacy operator's stock after purchasing an additional 5,755 shares during the quarter. New Age Alpha Advisors LLC's holdings in CVS Health were worth $5,448,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Whitebox Advisors LLC bought a new position in CVS Health in the fourth quarter valued at about $249,000. Jennison Associates LLC boosted its position in CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC lifted its position in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after purchasing an additional 183,813 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health during the 4th quarter valued at $121,742,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVS. UBS Group reduced their price objective on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Robert W. Baird lifted their target price on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley boosted their target price on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company restated an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.11.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company's stock.

CVS Health Price Performance

CVS Health stock traded up $0.02 during midday trading on Thursday, reaching $63.54. The company had a trading volume of 4,513,390 shares, compared to its average volume of 9,339,354. The company has a market capitalization of $80.58 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The firm's fifty day simple moving average is $64.65 and its 200-day simple moving average is $64.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.2%. CVS Health's payout ratio is presently 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.