Callan Family Office LLC Purchases 11,890 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• Callan Family Office LLC increased its stake in CVS Health Corporation by 59.0% in the first quarter, bringing its total shares to 32,055 and valuing the holdings at $2,172,000.
• CVS Health reported earnings of $1.81 per share for the last quarter, exceeding analyst estimates of $1.46, with revenue reaching $98.92 billion.
• The company announced a quarterly dividend of $0.665 per share, representing an annualized yield of 4.1% and a dividend payout ratio of 74.30%.

Callan Family Office LLC boosted its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 59.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,055 shares of the pharmacy operator's stock after acquiring an additional 11,890 shares during the period. Callan Family Office LLC's holdings in CVS Health were worth $2,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors increased its position in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the last quarter. Dodge & Cox grew its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Goldman Sachs Group Inc. grew its stake in CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after buying an additional 4,632,530 shares during the period. Nuveen LLC purchased a new stake in CVS Health during the first quarter worth approximately $204,421,000. Finally, Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health during the fourth quarter worth approximately $121,742,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Up 2.7%

Shares of CVS traded up $1.83 on Friday, hitting $68.56. The company's stock had a trading volume of 8,251,802 shares, compared to its average volume of 9,019,700. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm's fifty day moving average price is $64.96 and its 200-day moving average price is $64.62. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market capitalization of $86.96 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.74 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the previous year, the business posted $1.83 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is 74.30%.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.22% of the company's stock.

Analyst Ratings Changes

CVS has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group upped their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, UBS Group dropped their price objective on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $75.68.

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.