Hemington Wealth Management Acquires 172 Shares of CVS Health Corporation (NYSE:CVS)

Hemington Wealth Management increased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 33.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682 shares of the pharmacy operator’s stock after acquiring an additional 172 shares during the period. Hemington Wealth Management’s holdings in CVS Health were worth $46,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors boosted its stake in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Dodge & Cox lifted its position in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after purchasing an additional 4,632,530 shares during the last quarter. Fairfax Financial Holdings Ltd. Can purchased a new position in shares of CVS Health in the fourth quarter worth $121,742,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of CVS Health by 310.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock valued at $238,739,000 after purchasing an additional 2,666,029 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $63.55 on Thursday. The stock has a 50-day moving average price of $64.63 and a 200 day moving average price of $64.07. The stock has a market capitalization of $80.60 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s payout ratio is currently 74.30%.

Analyst Ratings Changes

A number of brokerages have weighed in on CVS. Barclays boosted their target price on CVS Health from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. 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. Mizuho boosted their target price 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. Finally, Morgan Stanley raised their price target on CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.