CVS Health Co. (NYSE:CVS) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 34.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,289 shares of the pharmacy operator’s stock after selling 8,720 shares during the period. Montag A & Associates Inc.’s holdings in CVS Health were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Canoe Financial LP boosted its position in CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after buying an additional 859,134 shares during the last quarter. Steph & Co. increased its holdings in 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. Forum Financial Management LP raised its position in shares of CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 2,901 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of 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 buying an additional 16,840 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $151,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $57.24 on Monday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $58.50 and its two-hundred day moving average price is $64.35. The stock has a market cap of $71.86 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

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, 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 posted $2.21 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.65%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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 lowered their target price 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. Argus dropped their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, August 19th. Finally, 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. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $73.24.

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.