Gulf International Bank UK Ltd Reduces Stake in CVS Health Co. (NYSE:CVS)

Gulf International Bank UK Ltd trimmed its position in CVS Health Co. (NYSE:CVS) by 1.1% in the 4th 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 have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the third quarter worth $25,000. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $32,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVS shares. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Wolfe Research boosted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value 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 trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $64.54 on Friday. The firm’s 50 day simple moving average is $53.90 and its 200-day simple moving average is $56.40. 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 one year low of $43.56 and a one year high of $80.75. The firm has a market cap of $81.37 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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 predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced 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 4.12%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio 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.