CVS Health Corporation (NYSE:CVS) Stock Holdings Increased by Graypoint LLC

Graypoint LLC raised its holdings in shares of CVS Health Corporation (NYSE:CVS) by 92.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,998 shares of the pharmacy operator’s stock after acquiring an additional 4,811 shares during the period. Graypoint LLC’s holdings in CVS Health were worth $677,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Essex Financial Services Inc. raised its stake in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after buying an additional 166 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of CVS Health by 32.6% during the fourth 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 period. Sumitomo Life Insurance Co. raised its position in shares of CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after purchasing an additional 174 shares during the period. Koshinski Asset Management Inc. raised its position in shares of CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after purchasing an additional 178 shares during the period. Finally, Horizon Bancorp Inc. IN raised its position in shares of CVS Health by 7.4% during the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 180 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $61.94 on Friday. The business’s 50-day moving average price is $64.70 and its two-hundred day moving average price is $62.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a market capitalization of $78.36 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57.

CVS Health (NYSE:CVS) last announced its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that CVS Health Corporation 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 will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given 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 dividend yield of 4.29%. CVS Health’s dividend payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVS shares. UBS Group boosted their target price on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Jefferies Financial Group boosted their target price on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Barclays set a $79.00 price target on CVS Health and gave the company an “overweight” rating in a report on Monday, June 2nd. Finally, Mizuho lifted their price target on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.06.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director owned 12,007 shares of the company’s stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is owned by corporate insiders.

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.