Wincap Financial LLC Grows Stake in CVS Health Corporation (NYSE:CVS)

Key Points

• Wincap Financial LLC increased its holdings in CVS Health Corporation by 29.9% in the 1st quarter, acquiring an additional 5,510 shares, making CVS Health about 1.5% of its portfolio.
• CVS Health reported $2.25 earnings per share for the last quarter, exceeding analysts' expectations of $1.62, and its revenue grew by 7.0% year-over-year.
• The company declared a quarterly dividend of $0.665 per share, representing a 4.38% yield, with the ex-dividend date set for July 22nd.

Wincap Financial LLC grew its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 29.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,933 shares of the pharmacy operator's stock after buying an additional 5,510 shares during the quarter. CVS Health accounts for 1.5% of Wincap Financial LLC's investment portfolio, making the stock its 15th largest position. Wincap Financial LLC's holdings in CVS Health were worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Age Alpha Advisors LLC purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $3,351,000. DnB Asset Management AS increased its position in shares of CVS Health by 5.5% during the fourth quarter. DnB Asset Management AS now owns 219,374 shares of the pharmacy operator's stock worth $9,848,000 after purchasing an additional 11,483 shares in the last quarter. Allstate Corp purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $1,680,000. Allianz SE acquired a new position in CVS Health during the fourth quarter worth $3,648,000. Finally, Brandywine Global Investment Management LLC boosted its stake in CVS Health by 29.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,848,986 shares of the pharmacy operator's stock worth $127,891,000 after buying an additional 650,832 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CVS. Wells Fargo & Company reissued 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. UBS Group lowered their price objective on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 22nd. Barclays set a $79.00 price objective on CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Robert W. Baird upped their price target on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.82.

CVS Health Stock Down 1.7%

NYSE CVS traded down $1.05 during trading hours on Monday, hitting $59.65. 8,952,000 shares of the company were exchanged, compared to its average volume of 6,689,161. The company has a 50 day moving average of $64.55 and a two-hundred day moving average of $63.74. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a market cap of $75.46 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.87 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share 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 company had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the prior year, the business earned $1.31 EPS. CVS Health's revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.46%. CVS Health's dividend payout ratio (DPR) 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.