DDD Partners LLC Invests $12.23 Million in CVS Health Corporation (NYSE:CVS)

DDD Partners LLC purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 180,442 shares of the pharmacy operator's stock, valued at approximately $12,225,000.

A number of other large investors have also added to or reduced their stakes in the business. Whitebox Advisors LLC bought a new stake in shares of CVS Health in the 4th quarter valued at $249,000. Cerity Partners LLC raised its stake in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after purchasing an additional 183,813 shares during the period. Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health in the 4th quarter valued at about $121,742,000. Finally, Lazard Asset Management LLC lifted its holdings in 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 valued at $192,617,000 after purchasing an additional 293,406 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

NYSE:CVS traded down $1.34 during trading hours on Friday, reaching $61.97. 3,549,562 shares of the company traded hands, compared to its average volume of 10,726,510. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The stock has a market cap of $78.39 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.91 and a beta of 0.57. The firm's 50-day moving average is $64.80 and its 200-day moving average is $62.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.59% and a net margin of 1.39%. The company's revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.29%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. UBS Group upped their target price on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Mizuho increased their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $75.06.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

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.