Lake Street Advisors Group LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Lake Street Advisors Group LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,062 shares of the pharmacy operator’s stock after selling 1,855 shares during the period. Lake Street Advisors Group LLC’s holdings in CVS Health were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steph & Co. lifted its stake in 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. Forum Financial Management LP boosted its holdings in CVS Health by 19.4% during the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the period. Douglas Lane & Associates LLC grew its position in CVS Health by 1.6% in 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 acquiring an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in CVS Health in the fourth quarter worth $151,000. Finally, State of Tennessee Treasury Department boosted its stake in shares of CVS Health by 10.4% during the fourth quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after purchasing an additional 58,836 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.6 %

Shares of NYSE:CVS opened at $57.75 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a market capitalization of $72.50 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.53. The business’s 50-day moving average is $58.29 and its 200 day moving average is $63.78. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the firm posted $2.21 EPS. CVS Health’s revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVS. Barclays decreased 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 report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased 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 note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday. Robert W. Baird began coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.48.

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.