Kathmere Capital Management LLC Takes $269,000 Position in CVS Health Corporation (NYSE:CVS)

Kathmere Capital Management LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,967 shares of the pharmacy operator’s stock, valued at approximately $269,000.

Other hedge funds have also added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth approximately $43,000. PARK CIRCLE Co lifted its holdings in CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator’s stock worth $45,000 after purchasing an additional 300 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock worth $46,000 after purchasing an additional 446 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new stake in CVS Health during the 4th quarter worth approximately $49,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. Barclays set a $79.00 price target on CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Robert W. Baird raised their price objective on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Royal Bank Of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. 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 company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.06.

Insider Buying and Selling

In related news, Director Guy P. Sansone bought 1,570 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Trading Down 1.4%

Shares of CVS stock opened at $64.73 on Monday. The firm has a market capitalization of $81.88 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.93 and a beta of 0.57. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. 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’s fifty day simple moving average is $65.05 and its 200 day simple moving average is $62.47.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. CVS Health’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business 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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health’s payout ratio is presently 63.48%.

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.