M&T Bank Corp Decreases Stock Position in CVS Health Corporation (NYSE:CVS)

M&T Bank Corp lessened its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,289 shares of the pharmacy operator's stock after selling 17,012 shares during the quarter. M&T Bank Corp's holdings in CVS Health were worth $12,282,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVS. Hopwood Financial Services Inc. bought a new stake in CVS Health in the fourth quarter worth $29,000. McIlrath & Eck LLC grew its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares in the last quarter. Sierra Ocean LLC grew its holdings in CVS Health by 584.8% during the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock valued at $49,000 after buying an additional 614 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after purchasing an additional 289 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in shares of CVS Health by 147.2% in the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock worth $51,000 after purchasing an additional 446 shares during the period. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.89 during trading on Thursday, hitting $65.77. 2,249,453 shares of the stock were exchanged, compared to its average volume of 10,189,113. The stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57. The company has a fifty day moving average price of $65.18 and a 200-day moving average price of $61.93. CVS Health Corporation has a 1-year low of $43.56 and a 1-year 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.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVS. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Barclays set a $79.00 target price on CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. 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 report on Tuesday, May 6th. Finally, Mizuho increased their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The transaction 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 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.