US Bancorp DE Cuts Position in CVS Health Corporation (NYSE:CVS)

Key Points

• US Bancorp DE has reduced its stake in CVS Health by 6.2%, now holding 196,389 shares valued at approximately $13.3 million as of the latest quarter.
• A number of institutional investors have increased their holdings in CVS Health, with notable raises from Dodge & Cox by 11.2% and Invesco by 30.1% during the last quarter.
• CVS Health recently announced a quarterly dividend of $0.665 per share, representing an annual yield of 4.3%, with a current payout ratio of 74.30%.

US Bancorp DE trimmed its position in CVS Health Corporation (NYSE:CVS - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,389 shares of the pharmacy operator's stock after selling 13,040 shares during the quarter. US Bancorp DE's holdings in CVS Health were worth $13,305,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dodge & Cox raised its holdings in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the period. Capital World Investors raised its holdings in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the period. Capital International Investors raised its holdings in shares of CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after buying an additional 1,212,126 shares during the period. Invesco Ltd. raised its holdings in shares of CVS Health by 30.1% during the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after buying an additional 4,173,243 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of CVS Health by 14.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock valued at $600,019,000 after buying an additional 1,660,321 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVS shares. Royal Bank Of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Mizuho raised their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird lifted their target price on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Three 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $75.11.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone bought 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 purchase, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.7%

CVS opened at $62.52 on Monday. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock's fifty day moving average is $64.56 and its 200-day moving average is $64.01. The company has a market capitalization of $79.30 billion, a PE ratio of 17.46, a P/E/G ratio of 0.86 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 business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. On average, equities analysts predict 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 was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.3%. CVS Health's payout ratio is currently 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.

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