Hartford Financial Management Inc. trimmed its holdings in CVS Health Corp (NYSE:CVS) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,494 shares of the pharmacy operator’s stock after selling 541 shares during the period. Hartford Financial Management Inc.’s holdings in CVS Health were worth $2,152,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in CVS Health by 28.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock worth $903,574,000 after purchasing an additional 3,041,266 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CVS Health by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after acquiring an additional 4,376,604 shares during the last quarter. Game Creek Capital LP lifted its stake in shares of CVS Health by 50.0% in the 4th quarter. Game Creek Capital LP now owns 15,000 shares of the pharmacy operator’s stock valued at $983,000 after acquiring an additional 5,000 shares during the last quarter. RBF Capital LLC lifted its stake in shares of CVS Health by 10.5% in the 4th quarter. RBF Capital LLC now owns 44,189 shares of the pharmacy operator’s stock valued at $2,895,000 after acquiring an additional 4,189 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in shares of CVS Health by 8.3% in the 4th quarter. Hilltop Holdings Inc. now owns 8,577 shares of the pharmacy operator’s stock valued at $562,000 after acquiring an additional 659 shares during the last quarter. 77.18% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Citigroup increased their price target on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Credit Suisse Group cut CVS Health from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $73.00 to $61.00 in a research note on Monday, April 29th. Evercore ISI set a $63.00 price target on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group dropped their price target on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.14.
NYSE CVS opened at $59.85 on Wednesday. The firm has a market capitalization of $77.11 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 1.30 and a beta of 0.90. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The firm has a fifty day moving average of $56.12. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.19. The business had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 earnings per share. Sell-side analysts anticipate that CVS Health Corp will post 6.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.34%. CVS Health’s payout ratio is currently 28.25%.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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