CVS Health Co. (NYSE:CVS) Stake Lowered by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. reduced its position in CVS Health Co. (NYSE:CVS) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,885 shares of the pharmacy operator’s stock after selling 4,162 shares during the period. CVS Health accounts for about 2.4% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 8th biggest position. Richard C. Young & CO. LTD.’s holdings in CVS Health were worth $17,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in CVS Health during the fourth quarter worth approximately $25,000. Freedom Wealth Alliance LLC bought a new stake in CVS Health during the fourth quarter worth approximately $40,000. True Wealth Design LLC bought a new stake in CVS Health during the fourth quarter worth approximately $48,000. 25 LLC bought a new position in shares of CVS Health during the first quarter valued at approximately $39,000. Finally, General Partner Inc. bought a new position in shares of CVS Health during the first quarter valued at approximately $47,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.5 %

CVS Health stock traded up $0.35 during mid-day trading on Friday, reaching $65.52. 3,012,604 shares of the company were exchanged, compared to its average volume of 9,099,615. The business has a fifty day moving average of $71.18 and a 200 day moving average of $73.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86. The firm has a market cap of $84.15 billion, a P/E ratio of 28.58, a PEG ratio of 1.27 and a beta of 0.63. CVS Health Co. has a 12-month low of $64.62 and a 12-month high of $104.83.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The company had revenue of $88.92 billion during the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. CVS Health’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. Research analysts anticipate that CVS Health Co. will post 8.62 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were issued a dividend of $0.605 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.69%. CVS Health’s dividend payout ratio is presently 106.14%.

Insider Activity

In other news, SVP James David Clark sold 25,759 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the completion of the sale, the senior vice president now owns 4,698 shares in the company, valued at approximately $351,974.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVS. Raymond James cut their target price on CVS Health from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. JPMorgan Chase & Co. cut their target price on CVS Health from $114.00 to $106.00 in a research note on Friday, July 7th. Wells Fargo & Company cut their target price on CVS Health from $95.00 to $76.00 in a research note on Monday, May 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $91.00 price objective on shares of CVS Health in a research note on Friday, August 18th. Finally, Piper Sandler dropped their price objective on CVS Health from $85.00 to $82.00 in a research note on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $98.65.

CVS Health Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.