MBM Wealth Consultants LLC Raises Holdings in CVS Health Co. (NYSE:CVS)

MBM Wealth Consultants LLC increased its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 625.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,160 shares of the pharmacy operator’s stock after purchasing an additional 1,000 shares during the quarter. MBM Wealth Consultants LLC’s holdings in CVS Health were worth $117,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC grew its holdings in CVS Health by 2.8% in the 1st quarter. Revolve Wealth Partners LLC now owns 4,328 shares of the pharmacy operator’s stock valued at $438,000 after buying an additional 119 shares in the last quarter. Acropolis Investment Management LLC grew its holdings in CVS Health by 77.1% in the 1st quarter. Acropolis Investment Management LLC now owns 3,018 shares of the pharmacy operator’s stock valued at $305,000 after buying an additional 1,314 shares in the last quarter. Glassy Mountain Advisors Inc. grew its holdings in CVS Health by 1.1% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 72,680 shares of the pharmacy operator’s stock valued at $7,356,000 after buying an additional 825 shares in the last quarter. DeDora Capital Inc. purchased a new stake in CVS Health in the 1st quarter valued at $68,000. Finally, Equitable Trust Co. grew its holdings in CVS Health by 2.7% in the 1st quarter. Equitable Trust Co. now owns 7,114 shares of the pharmacy operator’s stock valued at $720,000 after buying an additional 186 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on CVS Health from $113.00 to $120.00 in a report on Thursday, August 4th. UBS Group upped their price target on CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Tigress Financial upped their price target on CVS Health from $125.00 to $130.00 in a research note on Wednesday, August 17th. Credit Suisse Group upped their price target on CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Finally, Evercore ISI upped their price target on CVS Health from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $117.59.

CVS Health Price Performance

CVS stock opened at $102.15 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.91 and a quick ratio of 0.65. The firm has a market capitalization of $134.11 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.55 and a beta of 0.73. The business’s 50-day moving average is $98.77 and its two-hundred day moving average is $99.40. CVS Health Co. has a 1 year low of $81.78 and a 1 year high of $111.25.

CVS Health (NYSE:CVSGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The company had revenue of $80.64 billion for the quarter, compared to analyst estimates of $76.38 billion. During the same quarter last year, the company earned $2.42 EPS. CVS Health’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts anticipate that CVS Health Co. will post 8.54 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 22nd were issued a $0.55 dividend. The ex-dividend date was Thursday, July 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. CVS Health’s payout ratio is currently 35.77%.

Insider Activity

In other news, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Lotvin sold 22,541 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

About CVS Health

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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