Evergreen Capital Management LLC Sells 167,793 Shares of CVS Health Co. (NYSE:CVS)

Evergreen Capital Management LLC decreased its position in CVS Health Co. (NYSE:CVS) by 93.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,664 shares of the pharmacy operator’s stock after selling 167,793 shares during the quarter. Evergreen Capital Management LLC’s holdings in CVS Health were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the 4th quarter valued at about $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $34,000. Steph & Co. grew its holdings in shares of CVS Health by 192.0% in the first 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. Kapitalo Investimentos Ltda bought a new stake in CVS Health during the 4th quarter valued at $36,000. Finally, Scarborough Advisors LLC purchased a new stake in CVS Health during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.0 %

CVS stock opened at $58.65 on Thursday. 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 business has a 50 day moving average of $58.24 and a 200 day moving average of $62.20. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market cap of $73.63 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53.

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 company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, research analysts forecast 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 will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.54%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVS shares. Barclays lowered their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, CVS Health has an average 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.