Gulf International Bank UK Ltd Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Gulf International Bank UK Ltd reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,070 shares of the pharmacy operator’s stock after selling 1,072 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CVS Health were worth $4,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Widmann Financial Services Inc. grew its position in shares of CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC boosted its stake in CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after purchasing an additional 204 shares during the period. Rogco LP increased its position in shares of CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 210 shares during the period. United Asset Strategies Inc. lifted its holdings in shares of CVS Health by 2.4% in the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock worth $580,000 after buying an additional 212 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of CVS Health by 9.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,575 shares of the pharmacy operator’s stock valued at $163,000 after acquiring an additional 229 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $64.54 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a fifty day moving average of $53.90 and a 200-day moving average of $56.40. The stock has a market capitalization of $81.37 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.12%. CVS Health’s payout ratio is currently 72.68%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVS. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Insider Activity

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

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.