Wealth Advisory Solutions LLC Takes $505,000 Position in CVS Health Corporation (NYSE:CVS)

Wealth Advisory Solutions LLC bought a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,451 shares of the pharmacy operator's stock, valued at approximately $505,000.

A number of other hedge funds have also bought and sold shares of CVS. Hopwood Financial Services Inc. acquired a new position in CVS Health during the fourth quarter worth about $29,000. McIlrath & Eck LLC boosted its position in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the period. Sierra Ocean LLC grew its position in CVS Health by 584.8% during the first quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock valued at $49,000 after purchasing an additional 614 shares in the last quarter. MV Capital Management Inc. grew its position in CVS Health by 63.9% during the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock valued at $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Dunhill Financial LLC raised its holdings in shares of CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock valued at $51,000 after purchasing an additional 446 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Trading Down 1.6%

Shares of NYSE CVS traded down $1.08 during trading on Thursday, reaching $65.58. The company had a trading volume of 6,326,674 shares, compared to its average volume of 10,798,099. The company's fifty day moving average price is $65.10 and its 200-day moving average price is $62.08. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a market cap of $82.96 billion, a P/E ratio of 15.65, a PEG ratio of 0.95 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current 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 4.06%. CVS Health's dividend payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVS shares. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays set a $79.00 target price on CVS Health and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Two investment 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 presently has an average rating of "Moderate Buy" and a consensus price target of $75.06.

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.