Envestnet Asset Management Inc. Has $126.22 Million Stock Position in CVS Health Corporation (NYSE:CVS)

Envestnet Asset Management Inc. lifted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F 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 approximately 0.15% of CVS Health worth $126,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Essex Financial Services Inc. increased its position in shares of CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares during the last quarter. McIlrath & Eck LLC grew its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the period. Koshinski Asset Management Inc. grew its holdings in CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after purchasing an additional 178 shares during the period. Horizon Bancorp Inc. IN grew its holdings in CVS Health by 7.4% during the first 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 during the period. Finally, Coppell Advisory Solutions LLC grew its holdings in CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock worth $56,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts recently commented on CVS shares. UBS Group lifted their price target on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Robert W. Baird lifted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada upped their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

CVS Health Stock Down 0.4%

Shares of NYSE CVS opened at $66.65 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market capitalization of $84.31 billion, a P/E ratio of 15.91, a PEG ratio of 0.96 and a beta of 0.57. The stock's fifty day moving average is $65.18 and its 200 day moving average is $61.93.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.99%. CVS Health's dividend payout ratio is currently 63.48%.

CVS Health 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.

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