CVS Health Corporation (NYSE:CVS) Stock Position Decreased by Lbp Am Sa

LBP AM SA trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,330 shares of the pharmacy operator's stock after selling 5,375 shares during the period. LBP AM SA's holdings in CVS Health were worth $9,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new position in CVS Health during the fourth quarter worth $29,000. McIlrath & Eck LLC boosted its stake in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the period. Park Square Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $43,000. PARK CIRCLE Co raised its position in CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its position 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 valued at $46,000 after purchasing an additional 446 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVS. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Royal Bank Of Canada increased their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Barclays set a $79.00 price objective on CVS Health and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.89 on Friday, hitting $64.73. The stock had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.93 and a beta of 0.57. The company's 50 day moving average price is $65.05 and its 200 day moving average price is $62.47.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced 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. This represents a $2.66 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value 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 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 the SEC website. Corporate insiders own 1.22% of the company's stock.

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.