Slagle Financial LLC Makes New Investment in CVS Health Corporation (NYSE:CVS)

Slagle Financial LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,559 shares of the pharmacy operator's stock, valued at approximately $1,325,000.

A number of other large investors have also added to or reduced their stakes in the stock. Essex Financial Services Inc. lifted its stake in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after buying an additional 166 shares in the last quarter. McIlrath & Eck LLC lifted its stake 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 valued at $32,000 after buying an additional 174 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of CVS Health by 3.7% during the 1st 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. Horizon Bancorp Inc. IN lifted its stake in shares of CVS Health by 7.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after buying an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of CVS Health by 17.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after buying an additional 189 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVS. Piper Sandler boosted their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Robert W. Baird boosted their price target on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Truist Financial boosted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.06.

Insider Buying and Selling

In other news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by insiders.

CVS Health Trading Down 1.4%

CVS stock traded down $0.89 during mid-day trading on Friday, reaching $64.73. The company had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The company has a market capitalization of $81.88 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The firm has a 50 day moving average of $65.05 and a 200 day moving average of $62.35. 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 released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the firm earned $1.31 earnings per share. The company's quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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 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 4.11%. CVS Health's payout ratio is 63.48%.

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.