LRI Investments LLC Has $959,000 Position in CVS Health Corporation (NYSE:CVS)

LRI Investments LLC lifted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 54.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,151 shares of the pharmacy operator's stock after acquiring an additional 4,989 shares during the quarter. LRI Investments LLC's holdings in CVS Health were worth $959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVS. Whitebox Advisors LLC bought a new position in CVS Health in the 4th quarter worth approximately $249,000. Fairfax Financial Holdings Ltd. Can bought a new position in CVS Health in the fourth quarter valued at approximately $121,742,000. Bank of New York Mellon Corp boosted its holdings in shares of CVS Health by 2.1% in the first 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 buying an additional 183,813 shares during the period. Lazard Asset Management LLC increased its position in shares of CVS Health by 7.3% during the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after acquiring an additional 293,406 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of CVS Health by 248.0% during the first quarter. Teacher Retirement System of Texas now owns 282,232 shares of the pharmacy operator's stock worth $19,121,000 after acquiring an additional 201,120 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Stock Performance

Shares of CVS traded down $0.89 during midday trading on Friday, reaching $64.73. The stock had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The firm has a 50 day simple moving average of $65.05 and a 200-day simple moving average of $62.35. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The firm has a market cap of $81.88 billion, a PE ratio of 15.45, a P/E/G ratio of 0.93 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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 net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter last year, the firm posted $1.31 EPS. The company's quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVS shares. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Piper Sandler raised their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. UBS Group raised their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.06.

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.