Rhumbline Advisers Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Rhumbline Advisers trimmed its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,413,999 shares of the pharmacy operator's stock after selling 238,429 shares during the quarter. Rhumbline Advisers owned 0.19% of CVS Health worth $163,548,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health during the 4th quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the fourth quarter worth approximately $29,000. McIlrath & Eck LLC raised its stake 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 valued at $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc raised its holdings in shares of CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new stake in CVS Health during the 4th quarter valued at $37,000. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS stock traded down $0.52 during trading hours on Thursday, hitting $63.05. 6,599,235 shares of the company's stock were exchanged, compared to its average volume of 11,115,336. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market cap of $79.76 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.98 and a beta of 0.56. The firm has a 50 day moving average of $65.30 and a two-hundred day moving average of $59.84.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the prior year, the company posted $1.31 EPS. The company's quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.22%. CVS Health's payout ratio is currently 63.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVS. UBS Group lifted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Truist Financial raised their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

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.