CVS Health Co. (NYSE:CVS) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. grew its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 66.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,000 shares of the pharmacy operator's stock after acquiring an additional 41,500 shares during the period. Hennessy Advisors Inc.'s holdings in CVS Health were worth $7,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in CVS Health during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health during the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC increased its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Financial Perspectives Inc raised its stake in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. lifted its holdings in CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVS shares. Royal Bank of Canada boosted their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, 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. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.75.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Price Performance

CVS traded down $0.58 on Tuesday, reaching $67.13. 5,580,747 shares of the company's stock were exchanged, compared to its average volume of 10,944,034. The stock has a market cap of $84.92 billion, a PE ratio of 18.34, a P/E/G 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. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The stock's fifty day moving average price is $65.16 and its 200-day moving average price is $60.21.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health's dividend payout ratio (DPR) is 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.