CVS Health Co. (NYSE:CVS) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 28.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,616 shares of the pharmacy operator’s stock after selling 28,329 shares during the period. MainStreet Investment Advisors LLC’s holdings in CVS Health were worth $4,112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. USA Financial Formulas grew its holdings in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter valued at $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth $34,000. Steph & Co. boosted its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in CVS Health during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.6 %

Shares of NYSE:CVS opened at $57.75 on Friday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The firm has a market cap of $72.50 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a fifty day simple moving average of $58.29 and a 200 day simple moving average of $63.78.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.21 EPS. On average, equities research analysts anticipate that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Monday, August 19th. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

About CVS Health

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.