CVS Health Co. (NYSE:CVS) Stock Position Decreased by MGO One Seven LLC

MGO One Seven LLC decreased its position in CVS Health Co. (NYSE:CVS) by 15.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,372 shares of the pharmacy operator’s stock after selling 4,570 shares during the quarter. MGO One Seven LLC’s holdings in CVS Health were worth $1,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steph & Co. increased its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. Douglas Lane & Associates LLC increased its position in CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in CVS Health during the fourth quarter valued at about $151,000. State of Tennessee Treasury Department lifted its position in shares of CVS Health by 10.4% in the fourth quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock worth $49,336,000 after buying an additional 58,836 shares during the last quarter. Finally, BOCHK Asset Management Ltd acquired a new position in shares of CVS Health during the 4th quarter valued at about $2,116,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI reduced their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Stock Performance

NYSE CVS opened at $57.53 on Friday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $72.22 billion, a P/E ratio of 10.11, a PEG ratio of 0.81 and a beta of 0.54. The company’s 50-day simple moving average is $58.25 and its 200 day simple moving average is $63.30.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 EPS. As a group, research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.62%. CVS Health’s dividend payout ratio is presently 46.75%.

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.