4,970 Shares in CVS Health Corporation (NYSE:CVS) Bought by Topsail Wealth Management LLC

Topsail Wealth Management LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,970 shares of the pharmacy operator's stock, valued at approximately $337,000.

A number of other hedge funds have also modified their holdings of the stock. Essex Financial Services Inc. raised its holdings in shares of CVS Health by 0.8% in the 1st 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 in the last quarter. McIlrath & Eck LLC increased its holdings in 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 purchasing an additional 174 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in 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 purchasing an additional 178 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in 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 purchasing an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in 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 purchasing an additional 189 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho raised their price target on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. 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. 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. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.06.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.22% of the company's stock.

CVS Health Trading Down 1.6%

Shares of NYSE:CVS traded down $1.08 during midday trading on Thursday, hitting $65.58. The company had a trading volume of 6,326,674 shares, compared to its average volume of 10,798,099. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. 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 stock has a market cap of $82.96 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.95 and a beta of 0.57. The firm has a fifty day simple moving average of $65.10 and a 200 day simple moving average of $62.08.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results 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 10.59% and a net margin of 1.39%. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period last year, the company earned $1.31 EPS. The firm's revenue was up 7.0% on a year-over-year basis. On average, 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. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.06%. The ex-dividend date is Tuesday, July 22nd. CVS Health's payout ratio is presently 63.48%.

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.