Brown Advisory Inc. Has $6.68 Million Position in CVS Health Corporation (NYSE:CVS)

Brown Advisory Inc. lowered its position in CVS Health Corporation (NYSE:CVS - Free Report) by 25.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,596 shares of the pharmacy operator's stock after selling 33,766 shares during the period. Brown Advisory Inc.'s holdings in CVS Health were worth $6,680,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. Whitebox Advisors LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $249,000. Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health during the fourth quarter valued at approximately $121,742,000. Bank of New York Mellon Corp grew its holdings 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 valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Lazard Asset Management LLC grew its holdings in CVS Health by 7.3% during the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock valued at $192,617,000 after purchasing an additional 293,406 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in CVS Health by 248.0% during the first quarter. Teacher Retirement System of Texas now owns 282,232 shares of the pharmacy operator's stock valued at $19,121,000 after purchasing an additional 201,120 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost 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. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. Mizuho increased their price target on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Barclays set a $79.00 price objective on CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. UBS Group increased their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.06.

CVS Health Stock Down 1.4%

Shares of NYSE CVS opened at $64.73 on Friday. The stock has a market cap of $81.88 billion, a PE ratio of 15.45, a PEG ratio of 0.94 and a beta of 0.57. The business has a fifty day moving average of $65.05 and a two-hundred day moving average of $62.22. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business's revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.11%. CVS Health's payout ratio is presently 63.48%.

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.

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