Ieq Capital LLC Sells 19,423 Shares of CVS Health Co. (NYSE:CVS)

Ieq Capital LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 38.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,464 shares of the pharmacy operator’s stock after selling 19,423 shares during the quarter. Ieq Capital LLC’s holdings in CVS Health were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CVS. Steph & Co. grew its position in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Douglas Lane & Associates LLC grew its position in CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after purchasing an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in CVS Health during the 4th quarter valued at about $151,000. State of Tennessee Treasury Department grew its position in CVS Health by 10.4% during the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after purchasing an additional 58,836 shares during the last quarter. Finally, BOCHK Asset Management Ltd purchased a new stake in CVS Health during the 4th quarter valued at about $2,116,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $57.51 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a market capitalization of $72.20 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 0.53. The firm’s 50 day simple moving average is $58.31 and its two-hundred day simple moving average is $62.44.

CVS Health (NYSE:CVS) last issued its quarterly earnings results 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. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.