Ceeto Capital Group LLC Sells 1,358 Shares of CVS Health Co. (NYSE:CVS)

Ceeto Capital Group LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,596 shares of the pharmacy operator’s stock after selling 1,358 shares during the period. Ceeto Capital Group LLC’s holdings in CVS Health were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Riverpoint Wealth Management Holdings LLC bought a new position in CVS Health in the 4th quarter valued at approximately $218,000. Canoe Financial LP lifted its stake in CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares during the last quarter. Meritage Portfolio Management lifted its stake in CVS Health by 30.6% in the 4th quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after purchasing an additional 15,548 shares during the last quarter. Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Finally, Forum Financial Management LP lifted its stake in CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 2,901 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 4.0 %

NYSE CVS traded up $2.35 on Friday, hitting $61.00. 14,553,173 shares of the company were exchanged, compared to its average volume of 7,959,074. The company has a market cap of $76.58 billion, a PE ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.52. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a fifty day moving average of $58.85 and a 200-day moving average of $67.30. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 price objective on shares of CVS Health in a research note on Tuesday, July 23rd. SVB Leerink restated a “market perform” rating and issued a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price target for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. The Goldman Sachs Group decreased their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.