Waldron Private Wealth LLC Sells 4,099 Shares of CVS Health Co. (NYSE:CVS)

Waldron Private Wealth LLC lowered its position in CVS Health Co. (NYSE:CVS) by 39.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,383 shares of the pharmacy operator’s stock after selling 4,099 shares during the quarter. Waldron Private Wealth LLC’s holdings in CVS Health were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in CVS Health in the 4th quarter worth $1,092,040,000. Capital International Investors lifted its stake in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in CVS Health by 573.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after acquiring an additional 4,729,207 shares during the period. Capital World Investors grew its position in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS stock opened at $57.24 on Monday. The stock’s 50 day simple moving average is $58.50 and its 200 day simple moving average is $64.35. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock 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 analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI lowered their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.