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Bank of New York Mellon Corp Raises Holdings in CVS Health Corporation (NYSE:CVS)

CVS Health logo with Medical background

Bank of New York Mellon Corp increased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,981,262 shares of the pharmacy operator's stock after purchasing an additional 183,813 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of CVS Health worth $608,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter valued at $29,000. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the period. Park Square Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter valued at about $43,000. PARK CIRCLE Co grew its holdings in shares of CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its stake in CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 446 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Trading Down 1.1%

NYSE:CVS traded down $0.75 during midday trading on Monday, hitting $66.68. 6,418,905 shares of the company traded hands, compared to its average volume of 10,833,454. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm's fifty day moving average is $65.11 and its 200-day moving average is $61.71. The firm has a market capitalization of $84.35 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.57. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.99%. CVS Health's dividend payout ratio is currently 63.48%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVS shares. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial lifted their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group lifted their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $75.06.

Read Our Latest Research Report on CVS Health

About CVS Health

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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