RWA Wealth Partners LLC Acquires 2,744 Shares of CVS Health Corporation $CVS

RWA Wealth Partners LLC lifted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,104 shares of the pharmacy operator’s stock after purchasing an additional 2,744 shares during the period. RWA Wealth Partners LLC’s holdings in CVS Health were worth $3,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after buying an additional 166 shares during the period. Hemington Wealth Management raised its stake in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares during the period. McIlrath & Eck LLC raised its stake in CVS Health by 32.6% during the 4th 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. Sumitomo Life Insurance Co. raised its stake in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after buying an additional 178 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CVS shares. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Bernstein Bank lowered their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays increased their price objective on CVS Health from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $76.32.

CVS Health Price Performance

Shares of NYSE CVS opened at $70.12 on Tuesday. The stock has a fifty day simple moving average of $65.09 and a two-hundred day simple moving average of $64.82. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 0.76 and a beta of 0.58. 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 announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the company earned $1.83 earnings per share. CVS Health’s revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s payout ratio is presently 74.30%.

Insider Activity

In related 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 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 SEC, which is available through the SEC website. Insiders own 1.22% of the company’s stock.

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.