Busey Bank Sells 923 Shares of CVS Health Co. (NYSE:CVS)

Busey Bank decreased its position in CVS Health Co. (NYSE:CVS) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,532 shares of the pharmacy operator’s stock after selling 923 shares during the period. Busey Bank’s holdings in CVS Health were worth $740,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVS. Norges Bank bought a new position in CVS Health in the fourth quarter valued at about $1,092,040,000. Capital International Investors lifted its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after buying an additional 10,837,801 shares during the period. Pzena Investment Management LLC lifted its stake in CVS Health by 573.8% in the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after buying an additional 4,729,207 shares during the period. Capital World Investors lifted its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS traded down $0.74 during mid-day trading on Thursday, hitting $57.58. 2,272,763 shares of the stock were exchanged, compared to its average volume of 11,264,896. The stock has a market capitalization of $72.28 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The firm’s 50-day simple moving average is $58.96 and its 200 day simple moving average is $65.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. As a group, equities analysts anticipate that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.62%. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVS. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Argus dropped their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.24.

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.