CVS Health Co. (NYSE:CVS) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 42.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 922,410 shares of the pharmacy operator’s stock after selling 689,871 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.07% of CVS Health worth $54,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas increased its position in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the 4th quarter valued at about $34,000. Steph & Co. increased its position 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 acquiring an additional 288 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in CVS Health in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS traded down $0.56 during trading on Wednesday, hitting $58.34. 1,699,973 shares of the stock were exchanged, compared to its average volume of 11,301,926. The company has a fifty day moving average price of $58.99 and a two-hundred day moving average price of $65.34. The company has a market cap of $73.24 billion, a PE ratio of 10.35, a P/E/G ratio of 0.57 and a beta of 0.52. 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 Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the prior year, the company earned $2.21 EPS. CVS Health’s revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Argus dropped their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Evercore ISI dropped their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Monday. Finally, Robert W. Baird began coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.24.

CVS Health Company 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.