Brighton Jones LLC Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Brighton Jones LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 19.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,124 shares of the pharmacy operator’s stock after acquiring an additional 1,494 shares during the period. Brighton Jones LLC’s holdings in CVS Health were worth $618,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CVS. Hopwood Financial Services Inc. purchased a new position in CVS Health during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC lifted its position in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc lifted its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Compass Planning Associates Inc bought a new stake in CVS Health during the fourth quarter valued at approximately $37,000. Finally, Providence First Trust Co bought a new stake in CVS Health during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.4%

Shares of CVS Health stock opened at $67.74 on Tuesday. The company’s fifty day simple moving average is $65.16 and its two-hundred day simple moving average is $60.21. The company has a market cap of $85.69 billion, a P/E ratio of 18.51, a PEG ratio of 0.98 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS) last released its 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. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 63.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVS. Royal Bank of Canada boosted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. UBS Group boosted their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Finally, Mizuho upped their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director now owns 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is currently owned by insiders.

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.