Gulf International Bank UK Ltd Reduces Holdings in CVS Health Corporation (NYSE:CVS)

Gulf International Bank UK Ltd decreased its position in CVS Health Corporation (NYSE:CVS) by 23.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 73,884 shares of the pharmacy operator’s stock after selling 22,186 shares during the period. Gulf International Bank UK Ltd’s holdings in CVS Health were worth $5,005,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC grew its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 174 shares during the period. Costello Asset Management INC grew its stake in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 422 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of CVS Health in the 1st quarter valued at approximately $39,000. Park Square Financial Group LLC purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $43,000. Finally, GW&K Investment Management LLC grew its stake in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $65.50 on Wednesday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The firm has a 50 day moving average of $64.74 and a two-hundred day moving average of $64.46. The stock has a market capitalization of $83.08 billion, a PE ratio of 18.30, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the business earned $1.83 EPS. The company’s revenue was up 8.4% on a year-over-year basis. On average, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Barclays increased their price objective on shares of CVS Health from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, UBS Group lowered their price objective on shares of CVS Health from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.11.

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.