Legacy Capital Wealth Partners LLC Purchases Shares of 4,173 CVS Health Corporation (NYSE:CVS)

Legacy Capital Wealth Partners LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,173 shares of the pharmacy operator's stock, valued at approximately $283,000.

Several other hedge funds have also recently modified their holdings of CVS. Dodge & Cox grew its stake in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Capital World Investors lifted its holdings in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after purchasing an additional 689,867 shares during the period. Capital International Investors increased its stake in shares of CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of CVS Health during the 4th quarter valued at $839,574,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Barclays set a $79.00 target price on CVS Health and gave the company an "overweight" rating in a research note on Monday, June 2nd. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Robert W. Baird upped their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus price target of $75.06.

CVS Health Trading Down 2.1%

CVS stock traded down $1.36 during midday trading on Friday, hitting $61.94. 8,610,279 shares of the company's stock were exchanged, compared to its average volume of 10,760,597. CVS Health Corporation has a 1-year low of $43.56 and a 1-year 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 stock has a market capitalization of $78.36 billion, a PE ratio of 14.78, a P/E/G ratio of 0.91 and a beta of 0.57. The business has a 50-day simple moving average of $64.80 and a two-hundred day simple moving average of $62.76.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the company earned $1.31 EPS. The company's quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.29%. CVS Health's payout ratio is currently 63.48%.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by insiders.

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.