M&T Bank Corp Lowers Position in CVS Health Co. (NYSE:CVS)

M&T Bank Corp trimmed its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,301 shares of the pharmacy operator's stock after selling 94,483 shares during the quarter. M&T Bank Corp's holdings in CVS Health were worth $8,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. J.Safra Asset Management Corp lifted its stake in shares of CVS Health by 19,986.7% in the 4th quarter. J.Safra Asset Management Corp now owns 3,013 shares of the pharmacy operator's stock valued at $132,000 after purchasing an additional 2,998 shares during the period. Clark Estates Inc. NY raised its stake in CVS Health by 19.8% during the 4th quarter. Clark Estates Inc. NY now owns 45,375 shares of the pharmacy operator's stock worth $2,037,000 after buying an additional 7,500 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in CVS Health by 29.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 102,991 shares of the pharmacy operator's stock worth $4,526,000 after buying an additional 23,581 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after buying an additional 710,281 shares during the period. Finally, State of Michigan Retirement System raised its stake in CVS Health by 11.0% during the 4th quarter. State of Michigan Retirement System now owns 3,584,177 shares of the pharmacy operator's stock worth $160,894,000 after buying an additional 354,700 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of analysts have commented on CVS shares. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Barclays boosted their price objective on CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Evercore ISI boosted their price objective on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Piper Sandler decreased 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 equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.83.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney bought 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

CVS Health Stock Performance

NYSE CVS traded up $1.09 on Friday, hitting $66.34. 10,082,148 shares of the stock traded hands, compared to its average volume of 11,965,158. The business's fifty day moving average is $56.42 and its two-hundred day moving average is $56.73. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The firm has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54. 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is 72.68%.

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.