Oxford Financial Group Ltd. purchased a new position in CVS Health Co. (NYSE:CVS – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,221 shares of the pharmacy operator’s stock, valued at approximately $239,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Live Oak Investment Partners purchased a new stake in CVS Health in the fourth quarter worth $25,000. 25 LLC purchased a new stake in shares of CVS Health in the 1st quarter worth about $39,000. Freedom Wealth Alliance LLC bought a new position in shares of CVS Health in the 4th quarter worth about $40,000. Ahrens Investment Partners LLC purchased a new stake in CVS Health in the first quarter worth about $45,000. Finally, Versant Capital Management Inc lifted its holdings in shares of CVS Health by 178.6% during the first quarter. Versant Capital Management Inc now owns 624 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 400 shares during the last quarter. 75.99% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on CVS shares. Wells Fargo & Company reduced their price objective on CVS Health from $95.00 to $76.00 in a research report on Monday, May 8th. JPMorgan Chase & Co. lowered their price target on CVS Health from $114.00 to $106.00 in a research report on Friday, July 7th. Truist Financial reduced their price objective on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Raymond James dropped their target price on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, StockNews.com began coverage on shares of CVS Health in a research report on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.65.
CVS Health Price Performance
Shares of CVS stock traded up $0.38 during trading hours on Tuesday, reaching $66.05. The company had a trading volume of 2,057,449 shares, compared to its average volume of 9,076,156. CVS Health Co. has a 12-month low of $64.62 and a 12-month high of $104.83. The company has a market capitalization of $84.83 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a fifty day moving average of $71.01 and a 200-day moving average of $72.92.
CVS Health (NYSE:CVS – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The firm had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. During the same quarter in the previous year, the company earned $2.40 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 8.61 earnings per share for the current year.
CVS Health Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were given a dividend of $0.605 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.66%. CVS Health’s dividend payout ratio is currently 106.14%.
In other news, SVP James David Clark sold 25,759 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the sale, the senior vice president now owns 4,698 shares of the company’s stock, valued at $351,974.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.
About CVS Health
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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