Burney Co. Grows Stock Position in CVS Health Corporation (NYSE:CVS)

Burney Co. raised its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 1,111.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,363 shares of the pharmacy operator's stock after buying an additional 217,767 shares during the quarter. Burney Co.'s holdings in CVS Health were worth $16,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Essex Financial Services Inc. increased its holdings in shares of CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares in the last quarter. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after acquiring an additional 174 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after acquiring an additional 178 shares in the last quarter. Finally, Horizon Bancorp Inc. IN increased its holdings in shares of CVS Health by 7.4% during the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

NYSE CVS traded down $3.03 during trading hours on Thursday, reaching $58.82. The company's stock had a trading volume of 12,429,501 shares, compared to its average volume of 6,225,006. The firm's 50-day moving average price is $64.68 and its 200-day moving average price is $63.22. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a market capitalization of $74.41 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.88 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm earned $1.31 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Tuesday, July 22nd. CVS Health's payout ratio is 63.48%.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director directly owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial lifted their price objective on 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 reduced their price objective on CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday. Two equities research 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 company. According to data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.82.

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.