Earned Wealth Advisors LLC Invests $304,000 in CVS Health Corporation (NYSE:CVS)

Key Points

• Earned Wealth Advisors LLC acquired 4,491 shares of CVS Health, valued at approximately $304,000, as reported in their recent 13F filing with the SEC.
• CVS Health reported $1.81 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.46, alongside revenue of $98.92 billion, up 8.4% year-over-year.
• The company also announced a quarterly dividend of $0.665, resulting in an annualized dividend yield of 4.3%, while its dividend payout ratio stands at 74.30%.

Earned Wealth Advisors LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 4,491 shares of the pharmacy operator's stock, valued at approximately $304,000.

A number of other large investors have also recently modified their holdings of the stock. Raiffeisen Bank International AG raised its position in shares of CVS Health by 13.9% in the 1st quarter. Raiffeisen Bank International AG now owns 9,771 shares of the pharmacy operator's stock worth $656,000 after acquiring an additional 1,191 shares in the last quarter. Heritage Trust Co grew its stake in CVS Health by 10.0% in the first quarter. Heritage Trust Co now owns 36,299 shares of the pharmacy operator's stock worth $2,459,000 after purchasing an additional 3,300 shares during the period. L & S Advisors Inc purchased a new position in CVS Health during the first quarter valued at $6,837,000. Manchester Capital Management LLC grew its position in shares of CVS Health by 8.5% in the 1st quarter. Manchester Capital Management LLC now owns 4,836 shares of the pharmacy operator's stock worth $328,000 after buying an additional 379 shares during the period. Finally, Scotia Capital Inc. increased its stake in shares of CVS Health by 17.0% in the 1st quarter. Scotia Capital Inc. now owns 156,448 shares of the pharmacy operator's stock worth $10,599,000 after acquiring an additional 22,751 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded up $0.02 during mid-day trading on Thursday, reaching $63.54. 4,513,390 shares of the company's stock traded hands, compared to its average volume of 10,092,041. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a 50 day moving average price of $64.63 and a two-hundred day moving average price of $64.07. The firm has a market capitalization of $80.58 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is owned by insiders.

Analyst Ratings Changes

CVS has been the topic of a number of recent research reports. Truist Financial upped their price objective 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. Robert W. Baird raised their price objective on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Morgan Stanley boosted their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group reduced their price target on CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group upped their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.11.

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.