Huntington National Bank decreased its holdings in CVS Health Corp (NYSE:CVS) by 14.7% in the second quarter, Holdings Channel reports. The fund owned 63,666 shares of the pharmacy operator’s stock after selling 10,970 shares during the quarter. Huntington National Bank’s holdings in CVS Health were worth $4,137,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of CVS Health by 17.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 268,896 shares of the pharmacy operator’s stock valued at $17,469,000 after acquiring an additional 40,759 shares during the last quarter. Stoneridge Investment Partners LLC lifted its holdings in shares of CVS Health by 33.8% in the 1st quarter. Stoneridge Investment Partners LLC now owns 77,805 shares of the pharmacy operator’s stock valued at $4,616,000 after acquiring an additional 19,647 shares during the last quarter. Symphony Financial Ltd. Co. bought a new position in shares of CVS Health in the 2nd quarter valued at about $216,000. Artemis Investment Management LLP lifted its holdings in shares of CVS Health by 10.3% in the 1st quarter. Artemis Investment Management LLP now owns 895,029 shares of the pharmacy operator’s stock valued at $53,216,000 after acquiring an additional 83,635 shares during the last quarter. Finally, AJO LP raised its position in CVS Health by 3,245.8% in the 1st quarter. AJO LP now owns 1,370,762 shares of the pharmacy operator’s stock worth $81,326,000 after purchasing an additional 1,329,792 shares during the period. 76.04% of the stock is owned by hedge funds and other institutional investors.
CVS has been the topic of a number of recent analyst reports. Tigress Financial reissued a “buy” rating on shares of CVS Health in a research report on Friday, April 24th. Citigroup reduced their price objective on shares of CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. SVB Leerink initiated coverage on shares of CVS Health in a research report on Wednesday, July 1st. They issued a “market perform” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, UBS Group reduced their price objective on shares of CVS Health from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.35.
CVS stock traded down $1.06 during trading on Friday, hitting $62.94. 9,200,682 shares of the company’s stock traded hands, compared to its average volume of 6,159,701. The firm has a market capitalization of $83.65 billion, a P/E ratio of 11.40, a PEG ratio of 1.42 and a beta of 0.76. The business has a fifty day simple moving average of $63.99 and a two-hundred day simple moving average of $64.46. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. CVS Health Corp has a 1 year low of $52.04 and a 1 year high of $77.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.28. The company had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. CVS Health’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.62 earnings per share. On average, equities research analysts predict that CVS Health Corp will post 7.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be paid a $0.50 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $2.00 annualized dividend and a yield of 3.18%. CVS Health’s dividend payout ratio (DPR) is 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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