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

M&T Bank Corp lessened its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 8.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC raised its position 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 buying an additional 174 shares during the last quarter. Park Square Financial Group LLC acquired a new position in CVS Health during the fourth quarter worth $43,000. PARK CIRCLE Co grew its holdings in shares of CVS Health by 42.9% in the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its stake in shares of CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVS shares. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Piper Sandler upped their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group increased their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Two investment 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 stock. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $75.06.

CVS Health Stock Performance

CVS stock traded down $1.08 during midday trading on Thursday, reaching $65.58. 6,326,674 shares of the company's stock traded hands, compared to its average volume of 10,798,099. The company has a 50-day moving average price of $65.18 and a two-hundred day moving average price of $61.93. 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 52 week low of $43.56 and a 52 week high of $72.51. The firm has a market capitalization of $82.96 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.95 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.06%. CVS Health's dividend payout ratio (DPR) is presently 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.