Quotient Wealth Partners LLC Makes New $526,000 Investment in CVS Health Corporation (NYSE:CVS)

Quotient Wealth Partners LLC bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,764 shares of the pharmacy operator's stock, valued at approximately $526,000.

Several other large investors also recently modified their holdings of CVS. Proficio Capital Partners LLC bought a new position in CVS Health in the fourth quarter valued at about $5,544,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CVS Health by 21.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 318,089 shares of the pharmacy operator's stock worth $14,279,000 after acquiring an additional 56,895 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of CVS Health by 7.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 165,314 shares of the pharmacy operator's stock worth $7,421,000 after acquiring an additional 11,955 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in CVS Health by 3.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 16,318 shares of the pharmacy operator's stock worth $733,000 after purchasing an additional 490 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $29,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on CVS shares. Royal Bank Of Canada lifted their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Robert W. Baird lifted their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.06.

CVS Health Stock Performance

Shares of CVS traded down $0.89 during trading hours on Friday, hitting $64.73. The stock had a trading volume of 3,329,144 shares, compared to its average volume of 10,768,709. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a 50-day moving average price of $65.10 and a 200 day moving average price of $62.08. The firm has a market capitalization of $81.89 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.95 and a beta of 0.57. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.11%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value 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 trade 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 currently owned by company insiders.

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.