Matrix Private Capital Group LLC Sells 596 Shares of CVS Health Co. (NYSE:CVS)

Matrix Private Capital Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,727 shares of the pharmacy operator’s stock after selling 596 shares during the quarter. Matrix Private Capital Group LLC’s holdings in CVS Health were worth $1,020,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Live Oak Investment Partners acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $40,000. True Wealth Design LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $48,000. 25 LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at approximately $39,000. Finally, General Partner Inc. acquired a new stake in shares of CVS Health in the 1st quarter valued at approximately $47,000. 75.99% of the stock is owned by institutional investors.

CVS Health Price Performance

CVS Health stock opened at $65.84 on Friday. The stock has a market capitalization of $84.56 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.24 and a beta of 0.63. CVS Health Co. has a 52-week low of $64.62 and a 52-week high of $104.83. The stock’s 50 day moving average price is $70.77 and its two-hundred day moving average price is $72.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $88.92 billion for the quarter, compared to analysts’ expectations of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. On average, equities analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 21st were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, July 20th. CVS Health’s dividend payout ratio is currently 106.14%.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $91.00 price target on shares of CVS Health in a research note on Friday, August 18th. Barclays cut their target price on shares of CVS Health from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Morgan Stanley cut their target price on shares of CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Edward Jones downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Mizuho cut their target price on shares of CVS Health from $120.00 to $88.00 in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Insider Buying and Selling

In related 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 value of $1,929,864.28. Following the transaction, the senior vice president now directly 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 available through the SEC website. 0.25% of the stock is owned by company insiders.

CVS Health Company 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.