Fifth Third Bancorp Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Fifth Third Bancorp increased its stake in CVS Health Co. (NYSE:CVS - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,749 shares of the pharmacy operator's stock after purchasing an additional 7,410 shares during the quarter. Fifth Third Bancorp's holdings in CVS Health were worth $11,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LaFleur & Godfrey LLC grew its position in shares of CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock valued at $217,000 after purchasing an additional 1,610 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health in the fourth quarter worth $28,000. Van ECK Associates Corp grew its position in CVS Health by 24.8% in the fourth quarter. Van ECK Associates Corp now owns 644,326 shares of the pharmacy operator's stock worth $28,924,000 after acquiring an additional 128,231 shares in the last quarter. MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after acquiring an additional 437 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in CVS Health during the fourth quarter valued at about $248,000. Institutional investors own 80.66% of the company's stock.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were acquired 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 now owns 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

CVS Health Trading Up 1.6%

CVS stock traded up $1.07 during trading on Friday, reaching $67.42. The company had a trading volume of 7,560,954 shares, compared to its average volume of 10,981,603. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a market cap of $85.29 billion, a P/E ratio of 18.42, a PEG ratio of 0.98 and a beta of 0.56. The business has a 50 day moving average of $65.15 and a 200 day moving average of $60.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. CVS Health's revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVS shares. Truist Financial upped 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. UBS Group upped their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.75.

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.