CVS Health Corporation (NYSE:CVS) Stock Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 3.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,020,552 shares of the pharmacy operator's stock after selling 40,583 shares during the quarter. Victory Capital Management Inc. owned 0.08% of CVS Health worth $69,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the last quarter. Sierra Ocean LLC raised its holdings in shares of CVS Health by 584.8% during the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after buying an additional 614 shares in the last quarter. MV Capital Management Inc. increased its holdings in CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after purchasing an additional 289 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock valued at $51,000 after purchasing an additional 446 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in CVS Health in the first quarter worth approximately $54,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the firm's 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 in the company, valued at $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. Insiders own 1.22% of the company's stock.

CVS Health Price Performance

Shares of CVS stock opened at $63.34 on Friday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The stock has a 50 day moving average price of $64.80 and a 200 day moving average price of $62.76. The firm has a market capitalization of $80.13 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.91 and a beta of 0.57. 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 announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period last year, the firm earned $1.31 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.20%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVS. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group raised their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Royal Bank Of Canada lifted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two 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 company's stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

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.

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