Graypoint LLC Raises Stock Position in CVS Health Corporation (NYSE:CVS)

Graypoint LLC increased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 92.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,998 shares of the pharmacy operator's stock after purchasing an additional 4,811 shares during the period. Graypoint LLC's holdings in CVS Health were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in CVS Health in the 4th quarter valued at about $43,000. PARK CIRCLE Co lifted its stake in CVS Health by 42.9% in the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in CVS Health by 77.2% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 446 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new stake in CVS Health in the 4th quarter valued at about $49,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

NYSE:CVS traded down $1.36 during trading hours on Friday, hitting $61.94. The stock had a trading volume of 8,610,279 shares, compared to its average volume of 10,775,122. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The firm has a market capitalization of $78.36 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.89 and a beta of 0.57. The company has a 50 day simple moving average of $64.70 and a two-hundred day simple moving average of $63.00.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during 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%. CVS Health's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. Research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.29%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Wells Fargo & Company restated an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Barclays set a $79.00 price target on shares of CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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. The trade was a 15.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by corporate insiders.

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.