M&T Bank Corp Sells 17,012 Shares of CVS Health Corporation (NYSE:CVS)

M&T Bank Corp decreased its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,289 shares of the pharmacy operator's stock after selling 17,012 shares during the period. M&T Bank Corp's holdings in CVS Health were worth $12,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the fourth quarter valued at $29,000. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Sierra Ocean LLC lifted its stake in CVS Health by 584.8% during the first 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. lifted its stake in CVS Health by 63.9% during the first 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 in the last quarter. Finally, Dunhill Financial LLC increased 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 valued at $51,000 after purchasing an additional 446 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 1.4%

CVS traded down $0.89 during midday trading on Friday, reaching $64.73. 7,020,824 shares of the company were exchanged, compared to its average volume of 10,783,050. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock has a market capitalization of $81.88 billion, a P/E ratio of 15.45, a PEG ratio of 0.95 and a beta of 0.57. The stock's 50-day simple moving average is $65.10 and its 200 day simple moving average is $62.08.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 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 business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. As a group, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given 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 is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired 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. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Wells Fargo & Company restated an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Jefferies Financial Group raised their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada raised their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Two 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $75.06.

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.