Gateway Investment Advisers LLC Buys 9,373 Shares of CVS Health Co. (NYSE:CVS)

Gateway Investment Advisers LLC lifted its position in CVS Health Co. (NYSE:CVS - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 312,463 shares of the pharmacy operator's stock after purchasing an additional 9,373 shares during the period. Gateway Investment Advisers LLC's holdings in CVS Health were worth $21,169,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC bought a new stake in CVS Health in the first quarter valued at $266,000. Butensky & Cohen Financial Security Inc. lifted its holdings in CVS Health by 8.0% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 51,720 shares of the pharmacy operator's stock worth $3,504,000 after buying an additional 3,810 shares during the period. Pines Wealth Management LLC bought a new stake in CVS Health during the 1st quarter valued at approximately $340,000. SeaCrest Wealth Management LLC grew its holdings in shares of CVS Health by 4.4% during the 1st quarter. SeaCrest Wealth Management LLC now owns 8,136 shares of the pharmacy operator's stock worth $551,000 after acquiring an additional 344 shares during the period. Finally, Procyon Advisors LLC purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $2,065,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director now directly owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

CVS Health stock traded up $0.35 during mid-day trading on Tuesday, reaching $64.21. 5,529,420 shares of the stock traded hands, compared to its average volume of 11,035,577. The stock has a market capitalization of $81.22 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business's 50-day moving average is $65.06 and its 200-day moving average is $60.01. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.14%. CVS Health's payout ratio is currently 63.48%.

Analyst Ratings Changes

Several brokerages have commented on CVS. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Robert W. Baird raised their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Mizuho boosted their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, UBS Group lifted 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. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $74.75.

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.