QRG Capital Management Inc. Cuts Stock Position in CVS Health Co. (NYSE:CVS)

QRG Capital Management Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,044 shares of the pharmacy operator’s stock after selling 632 shares during the period. QRG Capital Management Inc.’s holdings in CVS Health were worth $8,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVS. Vanguard Group Inc. grew its holdings in CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares in the last quarter. Capital World Investors increased its position in shares of CVS Health by 8.0% during the first 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. Capital International Investors lifted its stake in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares in the last quarter. Norges Bank purchased a new position in CVS Health in the fourth quarter valued at about $1,092,040,000. Finally, Capital Research Global Investors grew its stake in CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS stock traded down $0.74 during trading on Friday, reaching $57.11. 8,345,205 shares of the company’s stock were exchanged, compared to its average volume of 11,546,901. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a market cap of $71.69 billion, a PE ratio of 10.04, a P/E/G ratio of 0.57 and a beta of 0.52. The company’s fifty day moving average price is $59.45 and its 200-day moving average price is $66.19. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last posted 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 net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 7 EPS 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 paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

Several research firms have recently commented on CVS. Evercore ISI reduced their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays dropped 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 report on Thursday. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald increased their target price on CVS Health from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.19.

CVS Health Company 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.