Hall Laurie J Trustee Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Hall Laurie J Trustee decreased its position in shares of CVS Health Co. (NYSE:CVS) by 95.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,488 shares of the pharmacy operator’s stock after selling 57,830 shares during the period. Hall Laurie J Trustee’s holdings in CVS Health were worth $146,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas increased its holdings in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the 4th quarter valued at approximately $32,000. First Community Trust NA boosted its position in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter worth approximately $34,000. Finally, Steph & Co. boosted its position in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS traded up $0.10 during midday trading on Tuesday, hitting $58.90. 4,169,507 shares of the company traded hands, compared to its average volume of 11,361,929. The firm has a 50 day moving average of $58.99 and a 200-day moving average of $65.34. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market cap of $73.94 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

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 analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter 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, analysts forecast that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.52%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Leerink Partnrs cut CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price objective (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Monday. Argus lowered their price objective 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. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.24.

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.