First United Bank & Trust Raises Holdings in CVS Health Co. (NYSE:CVS)

First United Bank & Trust boosted its stake in CVS Health Co. (NYSE:CVS) by 321.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,990 shares of the pharmacy operator’s stock after purchasing an additional 2,280 shares during the period. First United Bank & Trust’s holdings in CVS Health were worth $203,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. LaFleur & Godfrey LLC increased its position in shares of CVS Health by 49.9% in the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock valued at $217,000 after acquiring an additional 1,610 shares during the period. Stonebridge Financial Group LLC purchased a new position in CVS Health during the 4th quarter valued at about $28,000. Legato Capital Management LLC raised its position in CVS Health by 9.7% during the 4th quarter. Legato Capital Management LLC now owns 27,914 shares of the pharmacy operator’s stock valued at $1,253,000 after purchasing an additional 2,470 shares during the last quarter. Van ECK Associates Corp lifted its holdings in CVS Health by 24.8% in the 4th quarter. Van ECK Associates Corp now owns 644,326 shares of the pharmacy operator’s stock worth $28,924,000 after buying an additional 128,231 shares during the period. Finally, Stanley Laman Group Ltd. grew its position in shares of CVS Health by 1,366.8% in the 4th quarter. Stanley Laman Group Ltd. now owns 80,672 shares of the pharmacy operator’s stock worth $3,621,000 after buying an additional 75,172 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Truist Financial raised their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, Mizuho lifted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Stock Performance

CVS stock opened at $66.34 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The stock has a market capitalization of $83.92 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The stock’s 50 day simple moving average is $65.16 and its 200 day simple moving average is $60.09.

CVS Health (NYSE:CVS) 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 company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director now owns 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.22% of the company’s stock.

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.