Callan Family Office LLC Boosts Holdings in 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 CVS Health Corporation (NYSE:CVS - Free Report) by 59.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,055 shares of the pharmacy operator's stock after purchasing an additional 11,890 shares during the quarter. Callan Family Office LLC's holdings in CVS Health were worth $2,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whitebox Advisors LLC acquired a new stake in CVS Health in the 4th quarter worth about $249,000. Jennison Associates LLC raised its stake in CVS Health by 503.8% in the 1st 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 in the last quarter. Cerity Partners LLC raised its position in shares of CVS Health by 25.0% in 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of CVS Health by 2.1% in 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 buying an additional 183,813 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of CVS Health in the 4th quarter valued at approximately $121,742,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $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 can be accessed through this link. Company insiders own 1.22% of the company's stock.

CVS Health Trading Up 2.7%

Shares of CVS traded up $1.83 during trading hours on Friday, hitting $68.56. 8,251,802 shares of the stock were exchanged, compared to its average volume of 9,019,700. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The business has a 50-day moving average of $64.96 and a 200-day moving average of $64.67. The firm has a market capitalization of $86.96 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, research analysts expect 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 was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 74.30%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. UBS Group dropped their target price on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a research report on Tuesday, July 22nd. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $71.00 to $82.00 in a research report on Thursday. Truist Financial boosted their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Finally, Bernstein Bank dropped their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $75.68.

About CVS Health

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.