CVS Health Co. (NYSE:CVS) Stock Position Decreased by Global Financial Private Client LLC

Global Financial Private Client LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 10.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,714 shares of the pharmacy operator’s stock after selling 315 shares during the quarter. Global Financial Private Client LLC’s holdings in CVS Health were worth $160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. USA Financial Formulas increased its position in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter valued at about $34,000. Steph & Co. raised its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in CVS Health during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock traded up $0.27 during trading on Friday, reaching $57.24. The company had a trading volume of 8,156,873 shares, compared to its average volume of 11,181,803. The firm’s 50 day simple moving average is $58.59 and its two-hundred day simple moving average is $64.66. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market capitalization of $71.86 billion, a PE ratio of 10.06, a PEG ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Barclays dropped their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.