Zions Bancorporation National Association UT Takes $424,000 Position in CVS Health Corporation (NYSE:CVS)

Key Points

• Zions Bancorporation acquired a new stake of approximately $424,000 in CVS Health, purchasing 6,257 shares during the first quarter.
• CVS Health recently announced a quarterly dividend of $0.665 per share, yielding about 4.1% annually, with a payout ratio of 74.30%.
• Equities analysts have varying outlooks for CVS Health, with ratings ranging from “neutral” to “overweight” and a consensus target price of $75.11.

Zions Bancorporation National Association UT acquired a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,257 shares of the pharmacy operator's stock, valued at approximately $424,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC lifted its stake in shares of 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 purchasing an additional 174 shares in the last quarter. Costello Asset Management INC lifted its stake in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of CVS Health in the 4th quarter valued at about $43,000. GW&K Investment Management LLC lifted its stake in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of CVS Health by 77.2% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 446 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. UBS Group reduced their price target on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. Jefferies Financial Group boosted their price target 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 boosted their price target 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, Robert W. Baird boosted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.11.

CVS Health Price Performance

Shares of NYSE CVS opened at $65.49 on Monday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $83.06 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58. The business has a 50 day simple moving average of $64.68 and a 200-day simple moving average of $64.38.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given 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 yield of 4.1%. CVS Health's payout ratio is currently 74.30%.

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.

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