Koss Olinger Consulting LLC Sells 20,751 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• Koss Olinger Consulting LLC significantly reduced its stake in CVS Health Corporation by 72.3%, selling 20,751 shares and bringing its holdings down to 7,968 shares worth approximately $540,000.
• CVS Health reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations of $1.46, while also achieving a revenue of $98.92 billion, representing an 8.4% increase from the previous year.
• The company announced a quarterly dividend of $0.665 per share, yielding 4.1%, with a current payout ratio of 74.30%.

Koss Olinger Consulting LLC lowered its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 72.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,968 shares of the pharmacy operator's stock after selling 20,751 shares during the quarter. Koss Olinger Consulting LLC's holdings in CVS Health were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whitebox Advisors LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $249,000. Jennison Associates LLC raised its holdings in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after acquiring an additional 1,582,257 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after acquiring an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after acquiring an additional 183,813 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can bought a new position in shares of CVS Health during the fourth quarter valued at approximately $121,742,000. Institutional investors own 80.66% of the company's stock.

Insider Activity

In other news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Down 1.0%

Shares of NYSE CVS traded down $0.64 during trading on Monday, reaching $64.91. The company had a trading volume of 5,554,636 shares, compared to its average volume of 9,220,690. The stock has a market cap of $82.32 billion, a PE ratio of 18.13, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The business's 50-day moving average is $64.71 and its 200 day moving average is $64.45.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is presently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial upped their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Bernstein Bank decreased their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.11.

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.