Wincap Financial LLC Increases 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 lifted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 29.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,933 shares of the pharmacy operator's stock after buying an additional 5,510 shares during the period. CVS Health comprises 1.5% of Wincap Financial LLC's holdings, making the stock its 15th largest holding. Wincap Financial LLC's holdings in CVS Health were worth $1,621,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Foundations Investment Advisors LLC increased its stake in shares of CVS Health by 3.5% in the first quarter. Foundations Investment Advisors LLC now owns 8,237 shares of the pharmacy operator's stock worth $558,000 after acquiring an additional 279 shares during the period. Maridea Wealth Management LLC purchased a new position in shares of CVS Health in the first quarter worth about $232,000. Norden Group LLC lifted its stake in shares of CVS Health by 3.0% in the first quarter. Norden Group LLC now owns 34,104 shares of the pharmacy operator's stock worth $2,311,000 after buying an additional 983 shares in the last quarter. Inlet Private Wealth LLC lifted its stake in shares of CVS Health by 0.5% in the first quarter. Inlet Private Wealth LLC now owns 68,566 shares of the pharmacy operator's stock worth $4,645,000 after buying an additional 320 shares in the last quarter. Finally, Sunpointe LLC purchased a new position in shares of CVS Health in the first quarter worth about $310,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVS shares. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Royal Bank Of Canada lifted their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $74.67.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.89 on Thursday, reaching $63.19. 20,152,665 shares of the company were exchanged, compared to its average volume of 10,125,262. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a market cap of $79.93 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.86 and a beta of 0.57. The company has a 50-day moving average of $64.48 and a 200-day moving average of $63.70.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS. Equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.21%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction 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 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company's stock.

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.