ING Groep NV Purchases 63,555 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• ING Groep NV increased its holdings in CVS Health Corporation by 42.8%, owning 212,002 shares worth approximately $14.36 million as of the latest SEC filing.
• CVS Health reported earnings of $1.81 per share for the last quarter, exceeding estimates, with revenues of $98.92 billion, marking an 8.4% year-over-year increase.
• Analysts have varying target price forecasts for CVS Health, with a consensus rating of "Moderate Buy" and an average target price of $75.11, reflecting positive sentiment among investment analysts.

ING Groep NV increased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 42.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 212,002 shares of the pharmacy operator's stock after acquiring an additional 63,555 shares during the period. ING Groep NV's holdings in CVS Health were worth $14,363,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. McIlrath & Eck LLC lifted its position 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 acquiring an additional 174 shares during the last quarter. Park Square Financial Group LLC bought a new position in CVS Health during the fourth quarter worth about $43,000. GW&K Investment Management LLC raised its holdings in CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after acquiring an additional 180 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after buying an additional 446 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in CVS Health in the fourth quarter valued at approximately $49,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock traded up $0.02 during trading on Thursday, hitting $63.54. 4,513,390 shares of the stock traded hands, compared to its average volume of 9,339,354. The firm's fifty day moving average is $64.65 and its 200-day moving average is $64.14. The stock has a market cap of $80.58 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Mizuho upped their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. 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 note on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday. UBS Group lowered their price objective on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Three investment 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $75.11.

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.