CVS Health Corporation (NYSE:CVS) Stock Holdings Decreased by Banco Santander S.A.

Key Points

• Banco Santander S.A. has reduced its holdings in CVS Health Corporation by 54.1%, ending the first quarter with 27,526 shares valued at approximately $1.87 million after selling over 32,000 shares.
• Several hedge funds increased their stakes in CVS Health, with Nicolet Advisory Services LLC leading the way by raising its holdings by 63.0% during the same period.
• CVS Health recently announced a quarterly dividend of $0.665 per share, translating to an annualized yield of 4.3%, with a payout ratio of 74.30%.

Banco Santander S.A. trimmed its position in CVS Health Corporation (NYSE:CVS - Free Report) by 54.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,526 shares of the pharmacy operator's stock after selling 32,505 shares during the period. Banco Santander S.A.'s holdings in CVS Health were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Essex Financial Services Inc. increased its position in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares during the period. McIlrath & Eck LLC grew its position in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the period. Sumitomo Life Insurance Co. grew its position in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after purchasing an additional 174 shares during the period. Koshinski Asset Management Inc. grew its position in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after purchasing an additional 178 shares during the period. Finally, Horizon Bancorp Inc. IN grew its position in CVS Health by 7.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock worth $177,000 after purchasing an additional 180 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. UBS Group decreased their price target 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. Truist Financial boosted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday. Finally, Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $75.11.

CVS Health Stock Up 0.2%

CVS stock traded up $0.13 during mid-day trading on Wednesday, hitting $63.55. 5,289,511 shares of the company were exchanged, compared to its average volume of 9,391,251. The company has a market capitalization of $80.60 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The firm has a fifty day simple moving average of $64.61 and a 200 day simple moving average of $64.07.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the business posted $1.83 EPS. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.2%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

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.