Oak Hill Wealth Advisors LLC Acquires New Shares in CVS Health Corporation (NYSE:CVS)

Oak Hill Wealth Advisors LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,319 shares of the pharmacy operator's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Dodge & Cox boosted its position in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Capital World Investors boosted its position in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Geode Capital Management LLC boosted its position in CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after acquiring an additional 689,867 shares during the period. Capital International Investors boosted its position in CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC boosted its position in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

CVS has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada boosted 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 price objective on CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Mizuho boosted their price objective on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now owns 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is owned by insiders.

CVS Health Stock Down 1.7%

Shares of CVS Health stock opened at $66.44 on Thursday. The stock's fifty day moving average is $64.81 and its 200-day moving average is $60.62. The firm has a market capitalization of $84.05 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.97 and a beta of 0.56. 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 Corporation has a 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results 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. The company had revenue of $94.59 billion for 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%. CVS Health's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Company 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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