Alpha Family Trust Invests $215,000 in CVS Health Corporation $CVS

Alpha Family Trust purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,170 shares of the pharmacy operator’s stock, valued at approximately $215,000.

A number of other hedge funds also recently modified their holdings of CVS. McIlrath & Eck LLC lifted its holdings 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. Costello Asset Management INC lifted its holdings in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 422 shares during the period. Stone House Investment Management LLC acquired a new position in CVS Health in the first quarter valued at $39,000. Park Square Financial Group LLC acquired a new position in CVS Health in the fourth quarter valued at $43,000. Finally, GW&K Investment Management LLC lifted its holdings in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 2.7%

NYSE:CVS opened at $68.56 on Monday. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a 50-day moving average of $64.96 and a 200-day moving average of $64.72. The company has a market cap of $86.96 billion, a PE ratio of 19.15, a PEG ratio of 0.76 and a beta of 0.58.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the prior year, the firm posted $1.83 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health’s dividend payout ratio is presently 74.30%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Royal Bank Of Canada boosted their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Bernstein Bank dropped their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Barclays boosted their target price on shares of CVS Health from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, UBS Group upgraded shares of CVS Health from an “underperform” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $75.68.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.