First Interstate Bank Buys New Holdings in CVS Health Corporation (NYSE:CVS)

First Interstate Bank acquired a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,854 shares of the pharmacy operator's stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Essex Financial Services Inc. increased its position in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after purchasing an additional 166 shares during the last quarter. McIlrath & Eck LLC increased 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 buying an additional 174 shares during the last quarter. Koshinski Asset Management Inc. raised its position 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 acquiring an additional 178 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after acquiring an additional 180 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its position in shares of CVS Health by 17.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after acquiring an additional 189 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was bought 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 owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Stock Performance

Shares of CVS traded down $0.29 on Wednesday, reaching $66.65. 6,329,968 shares of the company's stock traded hands, compared to its average volume of 10,816,935. The stock has a market cap of $84.31 billion, a PE ratio of 15.91, a PEG ratio of 0.96 and a beta of 0.57. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock's 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $61.90.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVS. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Barclays set a $79.00 price target on shares of CVS Health and gave the company an "overweight" rating in a research note on Monday, June 2nd. Jefferies Financial Group boosted their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.06.

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.