Selway Asset Management Cuts Stake in CVS Health Corp (NYSE:CVS)

Selway Asset Management reduced its holdings in shares of CVS Health Corp (NYSE:CVS) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,433 shares of the pharmacy operator’s stock after selling 1,400 shares during the period. CVS Health comprises 2.0% of Selway Asset Management’s investment portfolio, making the stock its 17th largest holding. Selway Asset Management’s holdings in CVS Health were worth $2,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings 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 valued at $903,574,000 after purchasing an additional 3,041,266 shares during the period. Geode Capital Management LLC grew its holdings in CVS Health by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after purchasing an additional 4,376,604 shares during the period. Lido Advisors LLC grew its holdings in CVS Health by 54.9% during the fourth quarter. Lido Advisors LLC now owns 16,607 shares of the pharmacy operator’s stock valued at $1,088,000 after purchasing an additional 5,888 shares during the period. Telemetry Investments L.L.C. bought a new position in CVS Health during the fourth quarter valued at $303,000. Finally, HRS Investment Holdings LLC grew its holdings in CVS Health by 33.3% during the fourth quarter. HRS Investment Holdings LLC now owns 20,000 shares of the pharmacy operator’s stock valued at $1,310,000 after purchasing an additional 5,000 shares during the period. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CVS stock traded up $0.25 on Friday, reaching $59.29. The company’s stock had a trading volume of 5,977,933 shares, compared to its average volume of 8,352,515. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15. The firm has a market cap of $76.70 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a 50 day simple moving average of $55.66.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter last year, the business posted $1.69 earnings per share. The firm’s revenue was up 35.2% compared to the same quarter last year. On average, analysts predict that CVS Health Corp will post 6.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

A number of equities analysts have recently commented on CVS shares. Citigroup raised their price target on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley reaffirmed a “buy” rating and issued a $74.00 price target on shares of CVS Health in a report on Sunday. Mizuho set a $71.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 5th. Evercore ISI set a $63.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer lowered CVS Health from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $75.14.

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.

Further Reading: Gross Domestic Product (GDP)

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.