CVS Health Co. (NYSE:CVS) Shares Purchased by Guardian Wealth Advisors LLC NC

Guardian Wealth Advisors LLC NC boosted its position in CVS Health Co. (NYSE:CVS) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,024 shares of the pharmacy operator’s stock after purchasing an additional 828 shares during the quarter. Guardian Wealth Advisors LLC NC’s holdings in CVS Health were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Morgan Stanley increased its stake in shares of CVS Health by 10.9% in the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after acquiring an additional 3,311,928 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of CVS Health by 103,371.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after acquiring an additional 15,532,533 shares during the last quarter. Norges Bank acquired a new stake in shares of CVS Health in the 4th quarter worth $1,425,416,000. FMR LLC increased its stake in shares of CVS Health by 31.0% in the 1st quarter. FMR LLC now owns 13,666,949 shares of the pharmacy operator’s stock worth $1,015,591,000 after acquiring an additional 3,237,567 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of CVS Health by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,055,009 shares of the pharmacy operator’s stock worth $1,103,488,000 after acquiring an additional 155,280 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVS shares. Morgan Stanley lowered their price target on CVS Health from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. Piper Sandler lowered their price target on CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, September 1st. JPMorgan Chase & Co. lowered their target price on CVS Health from $114.00 to $106.00 in a report on Friday, July 7th. StockNews.com initiated coverage on CVS Health in a report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Mizuho lowered their target price on CVS Health from $120.00 to $88.00 in a report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.00.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 25,759 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the sale, the senior vice president now owns 4,698 shares of the company’s stock, valued at approximately $351,974.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $65.84 on Monday. The stock has a 50-day simple moving average of $70.77 and a 200-day simple moving average of $72.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a market capitalization of $84.56 billion, a PE ratio of 28.88, a PEG ratio of 1.24 and a beta of 0.63. CVS Health Co. has a 1 year low of $64.62 and a 1 year high of $104.83.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.09. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The business had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. During the same quarter last year, the company earned $2.40 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 8.61 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health’s dividend payout ratio (DPR) is presently 106.14%.

About CVS Health

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The 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.