CVS Health Corporation (NYSE:CVS) Shares Acquired by Clearstead Trust LLC

Clearstead Trust LLC boosted its holdings in CVS Health Corporation (NYSE:CVS) by 53.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 767 shares of the pharmacy operator’s stock after purchasing an additional 267 shares during the quarter. Clearstead Trust LLC’s holdings in CVS Health were worth $52,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aviva PLC grew its stake in CVS Health by 154.9% during the 4th quarter. Aviva PLC now owns 681,209 shares of the pharmacy operator’s stock worth $30,579,000 after buying an additional 414,008 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of CVS Health by 1.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,529,714 shares of the pharmacy operator’s stock worth $68,669,000 after acquiring an additional 15,561 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $207,000. Employees Retirement System of Texas raised its position in CVS Health by 33.8% in the 4th quarter. Employees Retirement System of Texas now owns 154,600 shares of the pharmacy operator’s stock valued at $6,940,000 after purchasing an additional 39,060 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in CVS Health by 30.1% during the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator’s stock worth $809,730,000 after purchasing an additional 4,173,243 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $61.45 on Tuesday. The stock has a fifty day moving average price of $64.57 and a 200 day moving average price of $64.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock has a market cap of $77.74 billion, a PE ratio of 17.16, a P/E/G ratio of 0.86 and a beta of 0.58. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. Sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s payout ratio is currently 74.30%.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased 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. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVS. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Mizuho upped their price objective on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Jefferies Financial Group lifted their target price on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. UBS Group cut their price target on CVS Health from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Tuesday, July 22nd. Finally, Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.11.

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.