CVS Health Corporation (NYSE:CVS) Stock Holdings Decreased by Pathway Financial Advisers LLC

Key Points

• Pathway Financial Advisers LLC sold 13,541 shares of CVS Health Corporation, lowering its holdings by 57.5% to 10,015 shares worth $679,000 at the end of the first quarter.
• Several large investors increased their stakes in CVS Health, with Sierra Ocean LLC growing its position by an astounding 584.8% during the same period.
• CVS Health reported a quarterly earnings per share of $1.81, exceeding analyst estimates by $0.35, and its revenue increased by 8.4% year-over-year to $98.92 billion.

Pathway Financial Advisers LLC lessened its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,015 shares of the pharmacy operator's stock after selling 13,541 shares during the period. Pathway Financial Advisers LLC's holdings in CVS Health were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Whitebox Advisors LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $249,000. Jennison Associates LLC increased its holdings in shares of CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $121,742,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Mizuho raised their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Jefferies Financial Group lifted their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Bernstein Bank dropped their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $75.11.

CVS Health Stock Up 0.7%

Shares of NYSE:CVS traded up $0.42 during midday trading on Friday, hitting $62.52. 11,376,286 shares of the company's stock traded hands, compared to its average volume of 9,079,778. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a market cap of $79.30 billion, a PE ratio of 17.46, a P/E/G ratio of 0.86 and a beta of 0.58. The firm's fifty day moving average price is $64.56 and its two-hundred day moving average price is $64.01. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.3%. CVS Health's payout ratio is presently 74.30%.

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.