On April 26, 2023 at 12:53:42 ET an unusually large $4,030.00K block of Put contracts in CVS Health (CVS) was sold, with a strike price of $92.50 / share, expiring in 51 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.50 sigmas above the mean, placing it in the 99.57th percentile of all recent large trades made in CVS options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 3843 funds or institutions reporting positions in CVS Health. This is an increase of 43 owner(s) or 1.13% in the last quarter. Average portfolio weight of all funds dedicated to CVS is 0.48%, a decrease of 27.29%. Total shares owned by institutions decreased in the last three months by 2.12% to 1,240,989K shares. The put/call ratio of CVS is 0.52, indicating a bullish outlook.

Analyst Price Forecast Suggests 52.06% Upside

As of April 24, 2023, the average one-year price target for CVS Health is $110.81. The forecasts range from a low of $86.86 to a high of $150.15. The average price target represents an increase of 52.06% from its latest reported closing price of $72.87.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for CVS Health is $328,800MM, an increase of 2.23%. The projected annual non-GAAP EPS is $8.94.

What are Other Shareholders Doing?

OHIO NATIONAL FUND INC – ON Risk Managed Balanced Portfolio holds 45K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 50K shares, representing a decrease of 8.96%. The firm decreased its portfolio allocation in CVS by 11.61% over the last quarter.

PXLIX – PAX LARGE CAP FUND Institutional Class holds 323K shares representing 0.03% ownership of the company. No change in the last quarter.

Beese Fulmer Investment Management holds 133K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 128K shares, representing an increase of 3.34%. The firm increased its portfolio allocation in CVS by 78,105.21% over the last quarter.

Federated Hermes holds 808K shares representing 0.06% ownership of the company. In it’s prior filing, the firm reported owning 715K shares, representing an increase of 11.47%. The firm increased its portfolio allocation in CVS by 4.17% over the last quarter.

ELCO Management Co. holds 8K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 8K shares, representing a decrease of 2.43%. The firm decreased its portfolio allocation in CVS by 10.23% over the last quarter.

CVS Health Declares $0.60 Dividend

On March 16, 2023 the company declared a regular quarterly dividend of $0.60 per share ($2.42 annualized). Shareholders of record as of April 21, 2023 will receive the payment on May 1, 2023. Previously, the company paid $0.60 per share.

At the current share price of $72.87 / share, the stock’s dividend yield is 3.32%. Looking back five years and taking a sample every week, the average dividend yield has been 2.80%, the lowest has been 2.01%, and the highest has been 3.82%. The standard deviation of yields is 0.48 (n=236).

The current dividend yield is 1.07 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.75. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.

CVS Health Background Information
(This description is provided by the company.)

CVS Health is a different kind of health care company. It is a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, it is meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, its diversified model engages one in three Americans each year. From its innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, it is making health care more accessible, more affordable and simply better.

See all CVS Health regulatory filings.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.