Mawer Investment Management Ltd. Sells 6,295 Shares of CVS Health Corporation (NYSE:CVS)

Mawer Investment Management Ltd. lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 936,444 shares of the pharmacy operator’s stock after selling 6,295 shares during the quarter. Mawer Investment Management Ltd.’s holdings in CVS Health were worth $63,444,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Whitebox Advisors LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $249,000. Jennison Associates LLC boosted its holdings in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC boosted its holdings in CVS Health by 25.0% during the 1st 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 during the period. Bank of New York Mellon Corp boosted its holdings in CVS Health by 2.1% during the 1st 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 during the period. Finally, Fairfax Financial Holdings Ltd. Can purchased a new position in CVS Health during the 4th quarter valued at $121,742,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.7%

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

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

CVS Health Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVS shares. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Wells Fargo & Company restated an “overweight” rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Barclays set a $79.00 target price on CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. UBS Group lowered their target price on CVS Health from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Two research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.82.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents 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 currently owned by company insiders.

About CVS Health

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.