Kathmere Capital Management LLC Purchases Shares of 3,967 CVS Health Corporation (NYSE:CVS)

Kathmere Capital Management LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,967 shares of the pharmacy operator's stock, valued at approximately $269,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whitebox Advisors LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $249,000. Cerity Partners LLC boosted its position in shares of CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the period. Bank of New York Mellon Corp boosted its position in shares of CVS Health by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the period. Fairfax Financial Holdings Ltd. Can purchased a new stake in shares of CVS Health in the fourth quarter worth about $121,742,000. Finally, Lazard Asset Management LLC boosted its position in shares of CVS Health by 7.3% in the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after buying an additional 293,406 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction that occurred 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 directly owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction 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 company insiders.

Analyst Ratings Changes

Several research firms recently commented on CVS. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. 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 research note on Monday, June 30th. Truist Financial boosted their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Mizuho boosted their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $0.35 during trading on Tuesday, hitting $64.01. 5,954,658 shares of the company traded hands, compared to its average volume of 10,789,719. The stock has a market capitalization of $80.97 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.92 and a beta of 0.57. The business's fifty day moving average is $64.99 and its 200-day moving average is $62.61. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

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, beating the consensus estimate of $1.62 by $0.63. The company 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 10.59% and a net margin of 1.39%. The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share. As a group, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

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.