HB Wealth Management LLC Grows Stock Holdings in CVS Health Corporation (NYSE:CVS)

Key Points

• HB Wealth Management LLC increased its holdings in CVS Health Corporation by 64.2% during the first quarter, owning 32,893 shares valued at $2,229,000.
• Recent analyst price targets for CVS Health have varied, with estimates ranging from $67.00 to $81.00, indicating a mostly positive sentiment with an average target price of $74.82.
• CVS Health declared a quarterly dividend of $0.665 per share, which amounts to an annualized dividend of $2.66 with a dividend yield of 4.43%.

HB Wealth Management LLC lifted its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 64.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,893 shares of the pharmacy operator's stock after purchasing an additional 12,864 shares during the period. HB Wealth Management LLC's holdings in CVS Health were worth $2,229,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVS. McIlrath & Eck LLC boosted its holdings in shares of 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. Park Square Financial Group LLC purchased a new stake in shares of CVS Health during the fourth quarter worth about $43,000. GW&K Investment Management LLC boosted its holdings in shares of CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares during the period. PARK CIRCLE Co boosted its holdings in shares of CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after purchasing an additional 300 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in shares of CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 446 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CVS. Robert W. Baird raised their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. UBS Group lowered their price objective on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday, July 22nd. Mizuho raised their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Royal Bank Of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $74.82.

Insider Buying and Selling 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. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Up 0.6%

Shares of CVS traded up $0.36 on Tuesday, hitting $60.00. 11,023,857 shares of the stock traded hands, compared to its average volume of 6,834,479. 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 one year low of $43.56 and a one year high of $72.51. The company has a market capitalization of $75.90 billion, a PE ratio of 14.32, a P/E/G ratio of 0.85 and a beta of 0.57. The business has a 50 day simple moving average of $64.55 and a 200 day simple moving average of $63.74.

CVS Health (NYSE:CVS - Get Free Report) last posted its 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 net margin of 1.39% and a return on equity of 10.59%. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm's revenue was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 dividend yield of 4.43%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio is presently 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.