Proficio Capital Partners LLC Reduces Stock Position in CVS Health Corporation (NYSE:CVS)

Proficio Capital Partners LLC lessened its position in CVS Health Corporation (NYSE:CVS - Free Report) by 97.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,491 shares of the pharmacy operator's stock after selling 120,001 shares during the period. Proficio Capital Partners LLC's holdings in CVS Health were worth $237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GW&K Investment Management LLC grew its stake in shares of CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the period. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Sierra Ocean LLC raised its stake in CVS Health by 584.8% during the first quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock valued at $49,000 after purchasing an additional 614 shares in the last quarter. MV Capital Management Inc. raised its stake in CVS Health by 63.9% during the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock valued at $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Dunhill Financial LLC increased its position in CVS Health by 147.2% during the first quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock valued at $51,000 after acquiring an additional 446 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 3.3%

NYSE:CVS traded up $1.92 during mid-day trading on Friday, reaching $60.67. The company's stock had a trading volume of 10,876,795 shares, compared to its average volume of 6,441,933. The company's fifty day simple moving average is $64.61 and its two-hundred day simple moving average is $63.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The stock has a market cap of $76.75 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.87 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. On average, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.38%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Robert W. Baird increased their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Finally, Barclays set a $79.00 price target on shares of CVS Health and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.82.

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.