Stablepoint Partners LLC Raises Position in CVS Health Co. (NYSE:CVS)

Stablepoint Partners LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,316 shares of the pharmacy operator's stock after purchasing an additional 21,575 shares during the period. CVS Health makes up about 1.2% of Stablepoint Partners LLC's portfolio, making the stock its 17th biggest holding. Stablepoint Partners LLC's holdings in CVS Health were worth $6,661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of CVS Health in the 4th quarter valued at $839,574,000. Capital World Investors increased its position in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after acquiring an additional 11,018,438 shares during the period. Dodge & Cox increased its position in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after acquiring an additional 6,475,271 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Trading Down 0.8%

CVS stock opened at $63.05 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The stock has a market cap of $79.76 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.98 and a beta of 0.56. The business's 50-day moving average is $65.30 and its 200 day moving average is $59.84.

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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm posted $1.31 EPS. CVS Health's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.22%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial lifted their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Piper Sandler lifted 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. Finally, Argus set a $77.00 price objective on CVS Health in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

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.

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