Blair William & Co. IL Sells 9,469 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• Blair William & Co. IL reduced its stake in CVS Health by 13.3% during the first quarter, resulting in holdings valued at approximately $4.17 million.
• CVS Health announced a quarterly dividend of $0.665 per share, translating to an annualized yield of 4.2% based on a payout ratio of 74.30%.
• CVS's recent earnings report showed an EPS of $1.81, surpassing consensus estimates of $1.46, with revenue reaching $98.92 billion, up 8.4% year-over-year.

Blair William & Co. IL decreased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,527 shares of the pharmacy operator's stock after selling 9,469 shares during the period. Blair William & Co. IL's holdings in CVS Health were worth $4,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whitebox Advisors LLC bought a new position in CVS Health during the fourth quarter worth about $249,000. Jennison Associates LLC grew its holdings 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 during the period. Cerity Partners LLC grew its holdings in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares during the period. Bank of New York Mellon Corp lifted its position in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health during the fourth quarter worth approximately $121,742,000. Institutional investors own 80.66% of the company's stock.

CVS Health Trading Up 0.0%

CVS traded up $0.02 during trading on Thursday, reaching $63.54. 4,513,390 shares of the stock traded hands, compared to its average volume of 9,339,354. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $80.58 billion, a PE ratio of 17.75, a P/E/G ratio of 0.70 and a beta of 0.58. The stock's 50-day moving average is $64.65 and its 200 day moving average is $64.14. 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 issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.2%. CVS Health's dividend payout ratio is 74.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Barclays boosted their price objective on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Bernstein Bank reduced their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.11.

Insider Buying and Selling

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.22% of the company's stock.

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.