Topsail Wealth Management LLC Buys Shares of 4,970 CVS Health Corporation (NYSE:CVS)

Topsail Wealth Management LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,970 shares of the pharmacy operator's stock, valued at approximately $337,000.

Several other institutional investors have also recently made changes to their positions in the stock. Dodge & Cox increased its stake in 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 buying an additional 7,075,209 shares during the last quarter. Capital World Investors grew its position in shares of CVS Health by 26.6% during 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. Geode Capital Management LLC boosted its holdings in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after buying an additional 689,867 shares during the period. Capital International Investors boosted its holdings in CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after buying an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in 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 worth $880,319,000 after buying an additional 6,475,271 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Down 1.5%

CVS Health stock traded down $0.98 during trading hours on Thursday, hitting $65.68. The stock had a trading volume of 2,648,099 shares, compared to its average volume of 10,784,796. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $83.08 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The stock's 50-day moving average price is $65.18 and its 200-day moving average price is $61.93.

CVS Health (NYSE:CVS - Get Free Report) last issued its 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. The business had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. CVS Health's payout ratio is 63.48%.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by insiders.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Jefferies Financial Group lifted their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Mizuho raised their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Piper Sandler raised their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.06.

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.