CVS Health Corporation (NYSE:CVS) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 21.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,863,078 shares of the pharmacy operator's stock after buying an additional 333,364 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of CVS Health worth $126,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of 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 acquiring an additional 174 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of CVS Health by 3.7% during the 1st 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 during the last quarter. Horizon Bancorp Inc. IN increased its position in CVS Health by 7.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock worth $177,000 after purchasing an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after buying an additional 189 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Stock Down 1.4%

Shares of CVS Health stock traded down $0.89 on Friday, hitting $64.73. 7,020,831 shares of the company's stock traded hands, compared to its average volume of 10,796,063. The stock has a market cap of $81.88 billion, a P/E ratio of 15.45, a PEG ratio of 0.94 and a beta of 0.57. 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's 50-day moving average is $65.05 and its 200 day moving average is $62.22. 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 announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period last year, the business posted $1.31 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Mizuho increased their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Two 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.06.

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.