CVS Health Corporation (NYSE:CVS) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC cut its position in CVS Health Corporation (NYSE:CVS) by 1.0% during the first quarter, Holdings Channel reports. The firm owned 74,791 shares of the pharmacy operator’s stock after selling 720 shares during the period. Marco Investment Management LLC’s holdings in CVS Health were worth $5,067,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CVS. Whitebox Advisors LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $249,000. Jennison Associates LLC boosted its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cerity Partners LLC lifted its position in shares of CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after acquiring an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of CVS Health by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after acquiring an additional 183,813 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $121,742,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVS shares. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Barclays set a $79.00 price objective on CVS Health and gave the company an “overweight” rating in a research note on Monday, June 2nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Jefferies Financial Group lifted their price target on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.82.

CVS Health Stock Performance

Shares of CVS stock opened at $59.65 on Tuesday. The stock has a market capitalization of $75.46 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The stock’s 50-day moving average price is $64.55 and its 200 day moving average price is $63.74. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, July 22nd. CVS Health’s payout ratio is 63.48%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction dated 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 purchase, the director directly owned 12,007 shares of the company’s stock, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.22% of the stock is owned by company insiders.

CVS Health Company 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.