OneAscent Financial Services LLC Has $792,000 Stock Position in CVS Health Corporation (NYSE:CVS)

OneAscent Financial Services LLC raised its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 93.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,688 shares of the pharmacy operator's stock after purchasing an additional 5,661 shares during the period. OneAscent Financial Services LLC's holdings in CVS Health were worth $792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whitebox Advisors LLC purchased a new stake in shares of CVS Health in the 4th quarter worth approximately $249,000. Jennison Associates LLC lifted its position in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after acquiring an additional 1,582,257 shares in the last quarter. Cerity Partners LLC lifted its position in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after acquiring an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after buying an additional 183,813 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can bought a new position in shares of CVS Health during the 4th quarter valued at $121,742,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial increased 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. UBS Group raised their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, Mizuho raised their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.06.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.38 during trading hours on Monday, reaching $61.59. The company's stock had a trading volume of 6,996,811 shares, compared to its average volume of 10,760,102. The company's 50 day simple moving average is $64.70 and its 200 day simple moving average is $63.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock has a market cap of $77.91 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 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 the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. CVS Health's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. As a group, analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's payout ratio is 63.48%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price 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 filing with the SEC, which is accessible through this link. Insiders own 1.22% of the company's stock.

CVS Health 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.