Pines Wealth Management LLC Buys New Shares in CVS Health Co. (NYSE:CVS)

Pines Wealth Management LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,020 shares of the pharmacy operator’s stock, valued at approximately $340,000.

A number of other large investors have also added to or reduced their stakes in CVS. SeaCrest Wealth Management LLC grew its position in shares of CVS Health by 4.4% in the 1st quarter. SeaCrest Wealth Management LLC now owns 8,136 shares of the pharmacy operator’s stock worth $551,000 after buying an additional 344 shares during the last quarter. Procyon Advisors LLC bought a new stake in CVS Health in the first quarter valued at $2,065,000. AGH Wealth Advisors LLC bought a new stake in shares of CVS Health during the 1st quarter valued at about $230,000. Next Level Private LLC bought a new stake in shares of CVS Health during the 1st quarter valued at about $266,000. Finally, Stablepoint Partners LLC boosted its position in CVS Health by 28.1% during the 1st quarter. Stablepoint Partners LLC now owns 98,316 shares of the pharmacy operator’s stock valued at $6,661,000 after acquiring an additional 21,575 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVS shares. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Truist Financial boosted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Finally, Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $63.61 on Friday. The stock has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $65.21 and a two-hundred day simple moving average of $59.92.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio is presently 63.48%.

CVS Health 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.