Hoxton Planning & Management LLC Makes New $318,000 Investment in CVS Health Corporation (NYSE:CVS)

Key Points

• Hoxton Planning & Management LLC invested approximately $318,000 in CVS Health Corporation, acquiring 4,694 shares in the first quarter.
• Analysts have raised their price targets on CVS Health, with projections ranging from $67.00 to $84.00, indicating a generally "buy" sentiment towards the stock.
• CVS Health recently announced a quarterly dividend of $0.665 per share, resulting in an annualized dividend yield of 4.3%.

Hoxton Planning & Management LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,694 shares of the pharmacy operator's stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC increased its position in shares of CVS Health by 32.6% during the 4th 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 last quarter. Park Square Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter valued at about $43,000. GW&K Investment Management LLC boosted its stake in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after buying an additional 180 shares during the period. PARK CIRCLE Co raised its position in shares of CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its position in shares of CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on CVS shares. Royal Bank Of Canada lifted their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Barclays set a $79.00 target price on CVS Health and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. UBS Group dropped their price objective on CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Tuesday, July 22nd. Finally, Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three 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. According to data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average target price of $74.67.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

CVS stock opened at $62.11 on Friday. The stock has a 50-day moving average price of $64.52 and a two-hundred day moving average price of $63.77. CVS Health Corporation has a 12-month low of $43.56 and a 12-month 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 company has a market cap of $78.57 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, July 22nd. CVS Health's 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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