MJP Associates Inc. ADV Sells 872 Shares of CVS Health Co. (NYSE:CVS)

MJP Associates Inc. ADV lessened its stake in CVS Health Co. (NYSE:CVS) by 19.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,592 shares of the pharmacy operator’s stock after selling 872 shares during the quarter. MJP Associates Inc. ADV’s holdings in CVS Health were worth $248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Live Oak Investment Partners bought a new position in shares of CVS Health during the 4th quarter valued at about $25,000. LifePro Asset Management acquired a new stake in CVS Health during the 2nd quarter worth approximately $37,000. 25 LLC bought a new position in CVS Health in the first quarter valued at approximately $39,000. Freedom Wealth Alliance LLC acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $40,000. Finally, Ahrens Investment Partners LLC acquired a new stake in shares of CVS Health during the first quarter worth $45,000. Institutional investors own 75.99% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. Raymond James reduced their target price on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Wolfe Research upgraded CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, September 12th. Morgan Stanley cut their target price on CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Truist Financial decreased their price target on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Finally, Edward Jones lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.00.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.09 on Monday, hitting $70.96. The stock had a trading volume of 3,064,039 shares, compared to its average volume of 9,116,099. The stock has a market cap of $91.14 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.84. CVS Health Co. has a twelve month low of $64.62 and a twelve month high of $104.83. The business’s 50 day moving average is $70.83 and its two-hundred day moving average is $71.77.

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

CVS Health Announces Dividend

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

Insiders Place Their Bets

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

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.