Sei Investments Co. Decreases Stake in CVS Health Co. (NYSE:CVS)

Sei Investments Co. cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 922,012 shares of the pharmacy operator’s stock after selling 120,704 shares during the quarter. Sei Investments Co.’s holdings in CVS Health were worth $54,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Gryphon Financial Partners LLC grew its stake in CVS Health by 48.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after buying an additional 2,653 shares in the last quarter. TCW Group Inc. purchased a new position in shares of CVS Health in the fourth quarter valued at $1,605,000. Congress Wealth Management LLC DE raised its stake in shares of CVS Health by 126.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock valued at $539,000 after purchasing an additional 3,806 shares during the period. Johnson Financial Group Inc. lifted its holdings in CVS Health by 96.6% during the 4th quarter. Johnson Financial Group Inc. now owns 6,994 shares of the pharmacy operator’s stock worth $552,000 after purchasing an additional 3,437 shares in the last quarter. Finally, Glassman Wealth Services grew its holdings in CVS Health by 9.1% during the 4th quarter. Glassman Wealth Services now owns 4,232 shares of the pharmacy operator’s stock valued at $334,000 after buying an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $57.51 on Monday. 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 Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $72.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The business has a 50 day moving average price of $58.31 and a 200-day moving average price of $62.44.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping 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 was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. Equities research analysts predict that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reduced their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Barclays dropped their price target on 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. Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird began coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

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.