CX Institutional Reduces Stock Position in CVS Health Co. (NYSE:CVS)

CX Institutional decreased its position in CVS Health Co. (NYSE:CVS - Free Report) by 69.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,162 shares of the pharmacy operator's stock after selling 69,625 shares during the period. CX Institutional's holdings in CVS Health were worth $2,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc boosted its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. increased its stake in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS Health stock traded up $1.02 during midday trading on Friday, reaching $67.37. The stock had a trading volume of 4,070,643 shares, compared to its average volume of 10,981,634. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $85.22 billion, a PE ratio of 18.41, a P/E/G ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The firm's 50-day moving average price is $65.16 and its 200 day moving average price is $60.09.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.95%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVS shares. UBS Group upped their target price on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Mizuho raised their price objective on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Barclays set a $79.00 target price on shares of CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $74.75.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director now owns 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by insiders.

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.