Primecap Management Co. CA Has $198.58 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Primecap Management Co. CA lowered its holdings in CVS Health Co. (NYSE:CVS) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,362,305 shares of the pharmacy operator’s stock after selling 33,100 shares during the quarter. Primecap Management Co. CA’s holdings in CVS Health were worth $198,578,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVS. Steph & Co. increased its position in 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 acquiring an additional 288 shares during the period. Douglas Lane & Associates LLC raised its position in shares of CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after buying an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of CVS Health in the fourth quarter valued at about $151,000. State of Tennessee Treasury Department grew its position in 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 worth $49,336,000 after buying an additional 58,836 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new position in CVS Health during the fourth quarter valued at about $2,116,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.7 %

Shares of NYSE:CVS opened at $58.37 on Tuesday. The company has a 50 day moving average of $58.31 and a 200-day moving average of $62.88. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is presently 46.75%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective 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 report on Thursday, May 30th. Barclays decreased their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

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.