Naples Global Advisors LLC reduced its position in CVS Health Co. (NYSE:CVS - Free Report) by 32.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,719 shares of the pharmacy operator's stock after selling 4,173 shares during the quarter. Naples Global Advisors LLC's holdings in CVS Health were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of CVS. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the fourth quarter worth $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the fourth quarter valued at $29,000. McIlrath & Eck LLC grew its position in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc grew its position in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. grew its position in shares of CVS Health by 112.1% in 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. 80.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on CVS. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Truist Financial lifted their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Finally, Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $74.75.
Get Our Latest Stock Report on CVS Health
CVS Health Stock Up 0.8%
CVS opened at $63.61 on Friday. The stock has a market cap of $80.47 billion, a PE ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The business's fifty day simple moving average is $65.21 and its 200 day simple moving average is $59.90.
CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.
CVS Health Company Profile
(
Free Report)
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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