Envestnet Asset Management Inc. Purchases 333,364 Shares of CVS Health Corporation (NYSE:CVS)

Envestnet Asset Management Inc. raised its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm 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 approximately 0.15% of CVS Health worth $126,224,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Whitebox Advisors LLC bought a new stake in CVS Health in the fourth quarter worth approximately $249,000. Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health during the fourth quarter worth $121,742,000. Bank of New York Mellon Corp boosted its holdings in CVS Health by 2.1% during the first 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 last quarter. Lazard Asset Management LLC grew its stake in CVS Health by 7.3% in the 4th 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 period. Finally, Teacher Retirement System of Texas raised its position in CVS Health by 248.0% in the first quarter. Teacher Retirement System of Texas now owns 282,232 shares of the pharmacy operator's stock worth $19,121,000 after acquiring an additional 201,120 shares during the period. Institutional investors own 80.66% of the company's stock.

Insider Transactions 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. Company insiders own 1.22% of the company's stock.

CVS Health Stock Down 1.6%

NYSE CVS traded down $1.08 during trading hours on Thursday, reaching $65.58. 6,326,674 shares of the company's stock traded hands, compared to its average volume of 10,799,042. The firm has a market cap of $82.96 billion, a PE ratio of 15.65, a PEG ratio of 0.96 and a beta of 0.57. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a 50-day simple moving average of $65.18 and a 200 day simple moving average of $61.93.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share 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 analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. Sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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 4.06%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group boosted their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Barclays set a $79.00 price target on shares of CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $75.06.

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.