Gulf International Bank UK Ltd Reduces Position in CVS Health Corporation (NYSE:CVS)

Key Points

• Gulf International Bank UK Ltd reduced its stake in CVS Health by 23.1% during the first quarter, selling 22,186 shares and holding 73,884 shares valued at approximately $5 million.
• Several hedge funds have adjusted their positions in CVS Health, with the National Pension Service increasing its holdings by 5.8% to over 3 million shares, while Callan Family Office LLC saw a significant 59.0% increase in its stake.
• CVS Health reported a quarterly EPS of $1.81, beating estimates, with revenue of $98.92 billion—an increase of 8.4% year-over-year—while also announcing a quarterly dividend of $0.665 with a yield of 4.1%.

Gulf International Bank UK Ltd reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,884 shares of the pharmacy operator's stock after selling 22,186 shares during the quarter. Gulf International Bank UK Ltd's holdings in CVS Health were worth $5,005,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. National Pension Service grew its holdings in shares of CVS Health by 5.8% during the 1st quarter. National Pension Service now owns 3,152,397 shares of the pharmacy operator's stock valued at $213,575,000 after purchasing an additional 173,108 shares during the last quarter. Klingman & Associates LLC bought a new stake in shares of CVS Health during the 1st quarter valued at approximately $224,000. Russell Investments Group Ltd. grew its holdings in shares of CVS Health by 8.8% during the 1st quarter. Russell Investments Group Ltd. now owns 3,453,288 shares of the pharmacy operator's stock valued at $233,955,000 after purchasing an additional 279,508 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of CVS Health by 6.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 456,208 shares of the pharmacy operator's stock valued at $30,871,000 after purchasing an additional 28,387 shares during the last quarter. Finally, Callan Family Office LLC grew its holdings in shares of CVS Health by 59.0% during the 1st quarter. Callan Family Office LLC now owns 32,055 shares of the pharmacy operator's stock valued at $2,172,000 after purchasing an additional 11,890 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Barclays lifted their target price 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. Royal Bank Of Canada lifted their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Bernstein Bank cut 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. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, CVS Health currently has a consensus rating of "Buy" and a consensus target price of $75.68.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Stock Up 2.7%

Shares of NYSE CVS traded up $1.83 during trading on Friday, hitting $68.56. The stock had a trading volume of 8,251,802 shares, compared to its average volume of 9,019,700. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The company has a market capitalization of $86.96 billion, a PE ratio of 19.15, a PEG ratio of 0.74 and a beta of 0.58. The firm has a fifty day moving average of $64.96 and a two-hundred day moving average of $64.62.

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

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's payout ratio is 74.30%.

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.