CVS Health Co. (NYSE:CVS) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 43.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,886 shares of the pharmacy operator's stock after selling 47,415 shares during the period. Salem Investment Counselors Inc.'s holdings in CVS Health were worth $4,261,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Defined Wealth Management LLC bought a new stake in shares of CVS Health in the first quarter worth $240,000. F&V Capital Management LLC raised its stake in shares of CVS Health by 5.7% in the first quarter. F&V Capital Management LLC now owns 143,249 shares of the pharmacy operator's stock worth $9,705,000 after buying an additional 7,735 shares during the period. Paragon Capital Management Ltd purchased a new position in shares of CVS Health during the 1st quarter valued at about $289,000. Albert D Mason Inc. increased its holdings in CVS Health by 7.7% in the 1st quarter. Albert D Mason Inc. now owns 10,160 shares of the pharmacy operator's stock worth $688,000 after acquiring an additional 725 shares in the last quarter. Finally, Sky Investment Group LLC bought a new stake in shares of CVS Health during the 1st quarter valued at $207,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the company's 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 directly owns 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was 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 this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Up 1.6%

Shares of CVS Health stock traded up $1.07 during trading on Friday, reaching $67.42. The company's stock had a trading volume of 7,560,954 shares, compared to its average volume of 10,981,592. 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 company has a market cap of $85.29 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a 50-day simple moving average of $65.16 and a two-hundred day simple moving average of $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, topping analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.31 EPS. As a group, equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. 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 3.95%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVS shares. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Mizuho upped their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Robert W. Baird upped their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

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.