Mawer Investment Management Ltd. Reduces Holdings in CVS Health Corporation (NYSE:CVS)

Key Points

• Mawer Investment Management Ltd. reduced its stake in CVS Health by 0.7%, selling 6,295 shares and leaving it with 936,444 shares valued at approximately $63.4 million.
• Multiple institutional investors have increased their holdings in CVS Health, with notable increases including a 39.4% rise by GW&K Investment Management and a 584.8% surge by Sierra Ocean LLC in the first quarter.
• CVS Health announced a quarterly dividend of $0.665 per share, which will be paid on August 1st, representing a 4.46% dividend yield for investors.

Mawer Investment Management Ltd. decreased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 936,444 shares of the pharmacy operator's stock after selling 6,295 shares during the quarter. Mawer Investment Management Ltd. owned about 0.07% of CVS Health worth $63,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. GW&K Investment Management LLC increased its holdings in shares of CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares in the last quarter. McIlrath & Eck LLC lifted its holdings 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 purchasing an additional 174 shares in the last quarter. Sierra Ocean LLC boosted its position in shares of CVS Health by 584.8% during the first quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after buying an additional 614 shares during the period. MV Capital Management Inc. raised its position in CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock valued at $50,000 after buying an additional 289 shares during the last quarter. Finally, Dunhill Financial LLC lifted its stake in CVS Health by 147.2% in the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock valued at $51,000 after acquiring an additional 446 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Jefferies Financial Group boosted their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Cowen reiterated a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Mizuho lifted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, UBS Group dropped their target price 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. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average target price of $74.82.

Insider Activity

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased 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 owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company's stock.

CVS Health Stock Performance

NYSE CVS traded up $0.36 during trading on Tuesday, reaching $60.00. The company's stock had a trading volume of 11,023,857 shares, compared to its average volume of 6,834,479. The firm has a 50 day moving average price of $64.48 and a 200 day moving average price of $63.71. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market capitalization of $75.90 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

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, topping analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.43%. CVS Health's payout ratio is currently 63.48%.

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.