Beese Fulmer Investment Management Inc. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Beese Fulmer Investment Management Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,332 shares of the pharmacy operator’s stock after selling 498 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in CVS Health were worth $9,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paragon Capital Management Ltd purchased a new stake in CVS Health in the second quarter valued at approximately $224,000. Norway Savings Bank increased its holdings in shares of CVS Health by 4.3% in the second quarter. Norway Savings Bank now owns 32,346 shares of the pharmacy operator’s stock valued at $2,236,000 after purchasing an additional 1,330 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of CVS Health by 12.2% in the second quarter. Capital Investment Advisors LLC now owns 392,907 shares of the pharmacy operator’s stock valued at $27,162,000 after purchasing an additional 42,787 shares during the period. Peoples Financial Services CORP. increased its holdings in shares of CVS Health by 10.8% in the second quarter. Peoples Financial Services CORP. now owns 6,794 shares of the pharmacy operator’s stock valued at $470,000 after purchasing an additional 661 shares during the period. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of CVS Health by 3.5% in the second quarter. Flagship Harbor Advisors LLC now owns 36,847 shares of the pharmacy operator’s stock valued at $2,547,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Insider Activity

In other news, SVP James David Clark sold 25,759 shares of the company’s 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 sale, the senior vice president now directly owns 4,698 shares in the company, valued at $351,974.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVS shares. Morgan Stanley dropped their target price on CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Raymond James dropped their target price on CVS Health from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. JPMorgan Chase & Co. dropped their target price on CVS Health from $114.00 to $106.00 in a report on Friday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Thursday. Finally, Mizuho dropped their price objective on CVS Health from $120.00 to $88.00 in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.00.

CVS Health Price Performance

CVS Health stock traded up $0.92 during trading hours on Friday, hitting $70.87. The stock had a trading volume of 12,757,510 shares, compared to its average volume of 8,105,124. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.86 and a quick ratio of 0.64. CVS Health Co. has a 1-year low of $64.62 and a 1-year high of $104.83. The stock’s fifty day moving average is $70.83 and its two-hundred day moving average is $71.85. The stock has a market capitalization of $91.03 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 1.33 and a beta of 0.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.09. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The business had revenue of $88.92 billion for the quarter, compared to the consensus estimate of $86.41 billion. During the same period in the prior year, the business earned $2.40 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. As a group, analysts predict that CVS Health Co. will post 8.61 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were given a $0.605 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.41%. CVS Health’s dividend payout ratio is currently 106.14%.

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.