Raymond James & Associates Sells 247,053 Shares of CVS Health Co. (NYSE:CVS)

Raymond James & Associates trimmed its stake in CVS Health Co. (NYSE:CVS) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,659,013 shares of the pharmacy operator’s stock after selling 247,053 shares during the period. Raymond James & Associates’ holdings in CVS Health were worth $212,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after purchasing an additional 533,659 shares during the period. Capital World Investors raised its holdings in shares of CVS Health by 0.3% in the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after acquiring an additional 119,631 shares during the last quarter. Capital International Investors lifted its position in CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares in the last quarter. FMR LLC increased its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after purchasing an additional 305,564 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVS. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Barclays began coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Finally, SVB Leerink began coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Trading Down 0.2 %

Shares of CVS traded down $0.15 during mid-day trading on Friday, reaching $67.18. The company’s stock had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company’s fifty day moving average price is $74.42 and its two-hundred day moving average price is $73.64. The stock has a market cap of $84.68 billion, a PE ratio of 10.40, a P/E/G ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same period last year, the company earned $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

CVS Health Company Profile

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.