Nuveen LLC Buys New Holdings in CVS Health Corporation (NYSE:CVS)

Key Points

• Nuveen LLC has made a significant investment in CVS Health Corporation, acquiring approximately 3 million shares valued at around $204.42 million, representing 0.24% of the company's stock.
• CVS Health's recent earnings report showed an EPS of $1.81 for the quarter, surpassing estimates by $0.35, alongside a revenue of $98.92 billion, marking an 8.4% increase year-over-year.
• The company's quarterly dividend of $0.665 reflects an annual yield of 4.1%, and analysts have issued a consensus rating of "Moderate Buy" with a target price of approximately $75.11.

Nuveen LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,017,288 shares of the pharmacy operator's stock, valued at approximately $204,421,000. Nuveen LLC owned approximately 0.24% of CVS Health at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Essex Financial Services Inc. grew its stake in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares during the period. Hemington Wealth Management boosted its stake in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares in the last quarter. 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 in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other 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, for a total transaction of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by corporate insiders.

CVS Health Trading Up 1.3%

CVS Health stock traded up $0.87 during mid-day trading on Thursday, hitting $66.77. 5,861,817 shares of the company's stock were exchanged, compared to its average volume of 9,948,737. The firm has a market capitalization of $84.68 billion, a P/E ratio of 18.65, a PEG ratio of 0.72 and a beta of 0.58. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company's 50 day simple moving average is $64.79 and its 200-day simple moving average is $64.47.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 74.30%.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays upped their price target on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Jefferies Financial Group upped their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $71.00 to $82.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.68.

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.