D.A. Davidson & CO. Sells 109,388 Shares of CVS Health Co. (NYSE:CVS)

D.A. Davidson & CO. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 31.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 241,411 shares of the pharmacy operator’s stock after selling 109,388 shares during the quarter. D.A. Davidson & CO.’s holdings in CVS Health were worth $14,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas grew its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the 4th quarter valued at $34,000. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of CVS Health in the fourth quarter valued at about $36,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock 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 for the company in a research report on Friday, August 9th. Evercore ISI reduced their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 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, Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $73.24.

CVS Health Stock Up 0.5 %

Shares of NYSE:CVS 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 fifty day moving average of $58.50 and a 200-day moving average of $64.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization 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 announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during 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%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. On average, equities analysts predict 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. Shareholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.65%. CVS Health’s payout ratio is 46.75%.

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.