Spearhead Capital Advisors LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 22.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,032 shares of the pharmacy operator’s stock after purchasing an additional 21,418 shares during the quarter. CVS Health makes up 1.3% of Spearhead Capital Advisors LLC’s holdings, making the stock its 23rd biggest holding. Spearhead Capital Advisors LLC’s holdings in CVS Health were worth $8,880,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ShoreHaven Wealth Partners LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. raised its position in shares of CVS Health by 127.8% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 360 shares of the pharmacy operator’s stock worth $25,000 after acquiring an additional 202 shares during the last quarter. Greenhouse Wealth Management LLC bought a new position in shares of CVS Health during the fourth quarter worth about $26,000. Lederer & Associates Investment Counsel CA bought a new position in shares of CVS Health during the first quarter worth about $30,000. Finally, Reby Advisors LLC bought a new position in shares of CVS Health during the fourth quarter worth about $34,000. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Eva C. Boratto sold 18,882 shares of the company’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $74.68, for a total transaction of $1,410,107.76. Also, SVP James David Clark sold 5,350 shares of the company’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $76.00, for a total value of $406,600.00. In the last three months, insiders sold 583,892 shares of company stock worth $43,918,083. Insiders own 0.46% of the company’s stock.

Shares of NYSE:CVS traded up $1.87 during mid-day trading on Tuesday, hitting $79.56. 330,109 shares of the company traded hands, compared to its average volume of 6,737,496. The stock has a market cap of $104.33 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.72 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. CVS Health Co. has a 12-month low of $55.36 and a 12-month high of $78.22. The stock has a 50-day moving average price of $74.98 and a two-hundred day moving average price of $70.72.

CVS Health (NYSE:CVS) last announced its earnings results on Tuesday, May 4th. The pharmacy operator reported $2.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.35. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The company had revenue of $69.10 billion for the quarter, compared to analysts’ expectations of $68.33 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. CVS Health’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 7.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.51%. CVS Health’s dividend payout ratio is currently 28.25%.

A number of equities analysts have recently issued reports on the company. Guggenheim restated a “neutral” rating on shares of CVS Health in a research report on Tuesday, March 23rd. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, January 8th. Truist lifted their target price on CVS Health from $80.00 to $88.00 in a report on Wednesday, April 14th. Truist Securities lifted their target price on CVS Health from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Finally, Morgan Stanley lifted their target price on CVS Health from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Tuesday, April 20th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $84.31.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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