Berkeley Capital Partners LLC trimmed its holdings in CVS Health Corp (NYSE:CVS) by 28.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,215 shares of the pharmacy operator’s stock after selling 4,402 shares during the quarter. Berkeley Capital Partners LLC’s holdings in CVS Health were worth $729,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. New England Investment & Retirement Group Inc. purchased a new position in CVS Health during the 1st quarter worth $25,000. PrairieView Partners LLC acquired a new stake in CVS Health during the 1st quarter worth about $29,000. Marquette Asset Management LLC lifted its position in CVS Health by 148.9% during the 1st quarter. Marquette Asset Management LLC now owns 560 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 335 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in CVS Health by 327.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 455 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in CVS Health during the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
A number of analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. SunTrust Banks reduced their price objective on CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, April 13th. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 30th. SVB Leerink started coverage on CVS Health in a research note on Wednesday, July 1st. They set a “market perform” rating and a $72.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of CVS Health in a research note on Thursday, July 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $80.35.
Shares of CVS Health stock traded down $1.06 on Friday, hitting $62.94. The company’s stock had a trading volume of 9,200,682 shares, compared to its average volume of 6,159,701. CVS Health Corp has a 1 year low of $52.04 and a 1 year high of $77.03. The firm has a fifty day moving average price of $63.99 and a 200-day moving average price of $64.46. 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 market capitalization of $83.65 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.28. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The company had revenue of $66.76 billion during the quarter, compared to analyst estimates of $64.11 billion. During the same period in the previous year, the business earned $1.62 EPS. CVS Health’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that CVS Health Corp will post 7.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $2.00 annualized dividend and a yield of 3.18%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
CVS Health Profile
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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