V Wealth Advisors LLC reduced its stake in CVS Health Corp (NYSE:CVS) by 38.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,484 shares of the pharmacy operator’s stock after selling 2,756 shares during the quarter. V Wealth Advisors LLC’s holdings in CVS Health were worth $291,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. New England Investment & Retirement Group Inc. acquired a new stake in CVS Health in the 1st quarter valued at $25,000. PrairieView Partners LLC acquired a new stake in CVS Health in the 1st quarter valued at $29,000. Marquette Asset Management LLC increased its stake in CVS Health by 148.9% in the 1st quarter. Marquette Asset Management LLC now owns 560 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 335 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in CVS Health by 327.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 455 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in CVS Health in the 2nd quarter valued at $41,000. 76.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVS stock opened at $62.94 on Friday. The company has a market capitalization of $82.27 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.39 and a beta of 0.76. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.70 and a current ratio of 0.99. The company has a 50-day simple moving average of $63.99 and a 200 day simple moving average of $64.46. CVS Health Corp has a 52 week low of $52.04 and a 52 week high of $77.03.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. The business had revenue of $66.76 billion during the quarter, compared to the consensus estimate of $64.11 billion. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. CVS Health’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Sell-side analysts forecast that CVS Health Corp will post 7.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, July 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
Several brokerages have issued reports on CVS. Oppenheimer reiterated a “hold” rating on shares of CVS Health in a research note on Wednesday, May 6th. Robert W. Baird lifted their price target on shares of CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. SVB Leerink started coverage on shares of CVS Health in a research note on Wednesday, July 1st. They issued a “market perform” rating and a $72.00 price target on the stock. Credit Suisse Group upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Thursday, May 14th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average target price of $80.35.
In other CVS Health news, EVP Alan Lotvin acquired 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $63.14 per share, with a total value of $315,700.00. Following the acquisition, the executive vice president now directly owns 15,161 shares of the company’s stock, valued at approximately $957,265.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.
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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