CVS Health Corporation (NYSE:CVS) Shares Sold by PARUS FINANCE UK Ltd

Key Points

• PARUS FINANCE UK Ltd reduced its stake in CVS Health by 5.7%, selling 6,170 shares and now owning a total of 102,360 shares, valued at approximately $6,935,000.
• Several institutional investors, including Dodge & Cox and Capital World Investors, significantly increased their holdings in CVS during the fourth quarter, indicating strong institutional support for the stock.
• CVS Health recently reported $1.81 earnings per share for the last quarter, exceeding analysts' expectations of $1.46, with a total revenue of $98.92 billion, up 8.4% year-over-year.

PARUS FINANCE UK Ltd lessened its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,360 shares of the pharmacy operator's stock after selling 6,170 shares during the period. CVS Health comprises approximately 2.4% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 13th biggest position. PARUS FINANCE UK Ltd's holdings in CVS Health were worth $6,935,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVS. Whitebox Advisors LLC purchased a new stake in CVS Health in the fourth quarter worth $249,000. Jennison Associates LLC increased its stake in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the period. Cerity Partners LLC lifted its holdings in CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after buying an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $121,742,000. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts have 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. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Royal Bank Of Canada upped their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Truist Financial raised their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Robert W. Baird upped their price target on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.11.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Stock Performance

CVS Health stock traded up $0.02 during mid-day trading on Thursday, reaching $63.54. 4,513,390 shares of the company traded hands, compared to its average volume of 9,339,354. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm's fifty day moving average is $64.65 and its two-hundred day moving average is $64.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The company has a market capitalization of $80.58 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. On average, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.2%. CVS Health's dividend payout ratio is presently 74.30%.

About CVS Health

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.