Envestnet Asset Management Inc. Grows Holdings in CVS Health Corporation (NYSE:CVS)

Envestnet Asset Management Inc. lifted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 21.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,863,078 shares of the pharmacy operator's stock after acquiring an additional 333,364 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of CVS Health worth $126,224,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter valued at $29,000. McIlrath & Eck LLC raised its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the last quarter. Sierra Ocean LLC raised its holdings in CVS Health by 584.8% during the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock valued at $49,000 after buying an additional 614 shares during the last quarter. MV Capital Management Inc. raised its holdings in CVS Health by 63.9% during the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock valued at $50,000 after buying an additional 289 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock valued at $51,000 after buying an additional 446 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CVS. UBS Group boosted their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Mizuho upped their target price 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. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Royal Bank Of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Barclays set a $79.00 target price on shares of CVS Health and gave the stock an "overweight" rating in a research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $75.06.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased 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 approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.22% of the stock is owned by company insiders.

CVS Health Stock Performance

CVS traded down $0.95 during midday trading on Friday, hitting $64.67. 3,037,757 shares of the company traded hands, compared to its average volume of 10,767,699. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $81.81 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.95 and a beta of 0.57. The company's 50-day moving average is $65.10 and its 200 day moving average is $62.08. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

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

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

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.