Archer Investment Corp Decreases Stock Holdings in CVS Health Corporation (NYSE:CVS)

Archer Investment Corp reduced its holdings in shares of CVS Health Corporation (NYSE:CVS) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,402 shares of the pharmacy operator’s stock after selling 549 shares during the quarter. Archer Investment Corp’s holdings in CVS Health were worth $1,721,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC grew its stake in 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 buying an additional 174 shares during the period. Park Square Financial Group LLC purchased a new position in shares of CVS Health in the fourth quarter valued at $43,000. PARK CIRCLE Co boosted its stake in shares of CVS Health by 42.9% in the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator’s stock valued at $45,000 after purchasing an additional 300 shares during the period. Strategic Investment Solutions Inc. IL boosted its stake in shares of CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 446 shares during the period. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of CVS Health in the fourth quarter valued at $49,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

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

Wall Street Analysts Forecast Growth

CVS has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, Mizuho increased their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $0.80 on Friday, reaching $62.50. 1,571,706 shares of the company’s stock were exchanged, compared to its average volume of 10,719,797. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The business’s 50-day moving average is $64.80 and its two-hundred day moving average is $62.76. The firm has a market capitalization of $79.07 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.91 and a beta of 0.57.

CVS Health (NYSE:CVS) last released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 10.59%. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter last year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued 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 4.26%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

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.