Carnegie Capital Asset Management LLC lowered its position in CVS Health Co. (NYSE:CVS – Get Rating) by 88.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,716 shares of the pharmacy operator's stock after selling 36,167 shares during the quarter. Carnegie Capital Asset Management LLC's holdings in CVS Health were worth $394,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macroview Investment Management LLC increased its position in shares of CVS Health by 128.3% during the first quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator's stock worth $25,000 after acquiring an additional 136 shares during the period. Claremont Financial Group Inc. bought a new position in CVS Health in the fourth quarter worth approximately $26,000. Stuart Chaussee & Associates Inc. grew its stake in CVS Health by 123.0% in the first quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 171 shares in the last quarter. Rise Advisors LLC bought a new position in CVS Health in the fourth quarter worth approximately $41,000. Finally, Carl Stuart Investment Advisor Inc. bought a new position in CVS Health in the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 77.64% of the company's stock.
Get CVS Health alerts:CVS Health Stock Performance
Shares of CVS stock opened at $98.35 on Friday. The firm has a market capitalization of $129.12 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.91 and a quick ratio of 0.65. The business has a fifty day moving average of $100.20 and a 200 day moving average of $99.25. CVS Health Co. has a 1 year low of $81.78 and a 1 year high of $111.25.
CVS Health (NYSE:CVS – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.24. The business had revenue of $80.64 billion during the quarter, compared to analyst estimates of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The company's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. As a group, research analysts expect that CVS Health Co. will post 8.53 earnings per share for the current year.CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 21st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.24%. CVS Health's payout ratio is currently 35.77%.
Insider Buying and Selling at CVS Health
In other news, EVP Alan Lotvin sold 22,541 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the sale, the executive vice president now directly owns 109,183 shares in the company, valued at approximately $11,355,032. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Thomas M. Moriarty sold 138,654 shares of the firm's stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alan Lotvin sold 22,541 shares of the firm's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the sale, the executive vice president now owns 109,183 shares in the company, valued at $11,355,032. The disclosure for this sale can be found here. Company insiders own 0.69% of the company's stock.
Wall Street Analysts Forecast Growth
CVS has been the topic of several research analyst reports. Credit Suisse Group increased their price objective on CVS Health from $113.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, August 8th. Evercore ISI increased their target price on CVS Health from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, September 7th. Mizuho increased their target price on CVS Health from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, August 15th. UBS Group increased their target price on CVS Health from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Finally, Loop Capital began coverage on CVS Health in a research report on Thursday, June 16th. They set a "buy" rating and a $120.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.59.
CVS Health Company Profile
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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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