Wealth Management Partners LLC Decreases Holdings in CVS Health Co. (NYSE:CVS)

Wealth Management Partners LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 16.7% in the second quarter, Holdings Channel reports. The institutional investor owned 5,000 shares of the pharmacy operator’s stock after selling 1,000 shares during the period. Wealth Management Partners LLC’s holdings in CVS Health were worth $445,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of CVS Health by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 111,865,662 shares of the pharmacy operator’s stock valued at $11,321,923,000 after purchasing an additional 2,628,740 shares during the last quarter. State Street Corp lifted its holdings in shares of CVS Health by 4.3% in the 1st quarter. State Street Corp now owns 59,261,304 shares of the pharmacy operator’s stock valued at $5,997,837,000 after purchasing an additional 2,450,990 shares during the last quarter. Capital World Investors lifted its holdings in shares of CVS Health by 17.0% in the 1st quarter. Capital World Investors now owns 58,633,421 shares of the pharmacy operator’s stock valued at $5,934,465,000 after purchasing an additional 8,531,311 shares during the last quarter. Capital International Investors lifted its holdings in shares of CVS Health by 1.1% in the 1st quarter. Capital International Investors now owns 28,139,498 shares of the pharmacy operator’s stock valued at $2,848,157,000 after purchasing an additional 318,021 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 16,028,628 shares of the pharmacy operator’s stock valued at $1,622,257,000 after purchasing an additional 1,385,322 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS traded down $2.48 on Friday, reaching $97.35. The stock had a trading volume of 149,790 shares, compared to its average volume of 4,398,985. CVS Health Co. has a twelve month low of $81.78 and a twelve month high of $111.25. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $100.14 and a 200 day moving average of $99.28. The firm has a market capitalization of $127.80 billion, a PE ratio of 15.91, a PEG ratio of 1.52 and a beta of 0.73.

CVS Health (NYSE:CVSGet Rating) last posted its earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The firm had revenue of $80.64 billion for the quarter, compared to analyst estimates of $76.38 billion. During the same quarter in the prior year, the company earned $2.42 EPS. CVS Health’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 8.53 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 21st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, October 20th. CVS Health’s payout ratio is currently 35.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on CVS. UBS Group boosted their target price on CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Evercore ISI boosted their price target on CVS Health from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Loop Capital assumed coverage on CVS Health in a research report on Thursday, June 16th. They issued a “buy” rating and a $120.00 price target on the stock. Sanford C. Bernstein cut CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Finally, Tigress Financial boosted their price target on CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $117.59.

Insiders Place Their Bets

In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now directly owns 109,183 shares in the company, valued at approximately $11,355,032. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

CVS Health Company Profile

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CVS Health Corporation provides health services in the United States. The company's 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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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