CVS Health Co. (NYSE:CVS) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in CVS Health Co. (NYSE:CVS) by 30.0% in the second quarter, HoldingsChannel reports. The firm owned 94,523 shares of the pharmacy operator’s stock after selling 40,502 shares during the period. Oppenheimer & Co. Inc.’s holdings in CVS Health were worth $5,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after buying an additional 533,659 shares during the last quarter. Capital World Investors grew its holdings in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. Capital International Investors raised its stake in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Norges Bank bought a new position in shares of CVS Health during the fourth quarter worth about $1,092,040,000. Finally, Capital Research Global Investors grew its stake in CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 0.8 %

CVS Health stock opened at $57.98 on Friday. The firm’s 50 day moving average price is $58.28 and its two-hundred day moving average price is $63.08. The firm has a market cap of $72.94 billion, a PE ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is presently 46.75%.

Analyst Ratings Changes

Several brokerages have recently commented on CVS. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, Barclays lowered their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $72.10.

CVS Health 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.