Goldman Sachs Group Inc. Grows Stake in CVS Health Corporation (NYSE:CVS)

Goldman Sachs Group Inc. grew its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 87.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,927,650 shares of the pharmacy operator's stock after purchasing an additional 4,632,530 shares during the period. Goldman Sachs Group Inc. owned approximately 0.79% of CVS Health worth $672,598,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Intrust Bank NA boosted its stake in CVS Health by 32.4% during the first quarter. Intrust Bank NA now owns 9,560 shares of the pharmacy operator's stock worth $648,000 after buying an additional 2,339 shares during the period. Wealthspire Advisors LLC boosted its position in shares of CVS Health by 3.7% during the first quarter. Wealthspire Advisors LLC now owns 16,550 shares of the pharmacy operator's stock valued at $1,121,000 after buying an additional 588 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in CVS Health by 19.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 3,198 shares of the pharmacy operator's stock valued at $217,000 after acquiring an additional 510 shares during the period. Costello Asset Management INC lifted its position in shares of CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after purchasing an additional 422 shares during the last quarter. Finally, Advyzon Investment Management LLC purchased a new position in CVS Health in the 1st quarter worth about $206,000. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Trading Up 0.2%

NYSE:CVS opened at $63.55 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $64.63 and a 200-day simple moving average of $64.07. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a market capitalization of $80.60 billion, a P/E ratio of 17.75, a PEG ratio of 0.70 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is 74.30%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Truist Financial raised their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Robert W. Baird increased 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. Barclays upped their price target on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $75.11.

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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