CapWealth Advisors LLC Sells 366 Shares of CVS Health Co. (NYSE:CVS)

CapWealth Advisors LLC lowered its position in CVS Health Co. (NYSE:CVS) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 320,860 shares of the pharmacy operator’s stock after selling 366 shares during the quarter. CVS Health accounts for approximately 2.4% of CapWealth Advisors LLC’s investment portfolio, making the stock its 15th largest position. CapWealth Advisors LLC’s holdings in CVS Health were worth $18,950,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. USA Financial Formulas lifted 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 worth $30,000 after buying an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the fourth quarter worth approximately $32,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% in the second 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 during the last quarter. Creekmur Asset Management LLC acquired a new stake in CVS Health during the 4th quarter valued at approximately $34,000. Finally, Steph & Co. raised its holdings in CVS Health by 192.0% during the 1st 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. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVS. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. 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 report on Thursday, May 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Monday, August 19th. Finally, Evercore ISI cut their price target on CVS Health from $65.00 to $62.00 and set an “outperform” 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.48.

CVS Health Stock Performance

Shares of CVS Health stock opened at $58.06 on Friday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $58.32 and a 200-day moving average price of $64.00. The company has a market cap of $72.89 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS 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 business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the firm posted $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed 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 4.58%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

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.