Patrick Mauro Investment Advisor INC. Has $3.91 Million Stake in CVS Health Corporation (NYSE:CVS)

Patrick Mauro Investment Advisor INC. cut its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 48.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,642 shares of the pharmacy operator's stock after selling 55,056 shares during the period. CVS Health accounts for approximately 2.1% of Patrick Mauro Investment Advisor INC.'s investment portfolio, making the stock its 21st largest holding. Patrick Mauro Investment Advisor INC.'s holdings in CVS Health were worth $3,905,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. increased its position in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares during the period. McIlrath & Eck LLC increased its position in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the period. Sumitomo Life Insurance Co. increased its position in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares during the period. Koshinski Asset Management Inc. increased 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 worth $334,000 after buying an additional 178 shares during the period. Finally, Horizon Bancorp Inc. IN increased its position in CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock worth $177,000 after buying an additional 180 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Piper Sandler raised their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Jefferies Financial Group raised their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Robert W. Baird raised their price target on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. 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 data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $75.06.

CVS Health Stock Down 2.2%

NYSE CVS traded down $1.39 during trading on Friday, reaching $61.91. 6,285,929 shares of the company's stock were exchanged, compared to its average volume of 10,737,202. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market capitalization of $78.32 billion, a PE ratio of 14.78, a P/E/G ratio of 0.91 and a beta of 0.57. 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 company's fifty day simple moving average is $64.80 and its 200-day simple moving average is $62.76.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 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 analyst estimates of $93.07 billion. During the same period last year, the company posted $1.31 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.30%. CVS Health's payout ratio is presently 63.48%.

Insider Buying and Selling

In other news, Director Guy P. Sansone purchased 1,570 shares of CVS Health 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 acquisition, the director directly 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 the SEC website. Insiders own 1.22% of the company's stock.

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.