CVS Health Co. (NYSE:CVS) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its stake in CVS Health Co. (NYSE:CVS) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,452 shares of the pharmacy operator’s stock after selling 2,127 shares during the quarter. Narwhal Capital Management’s holdings in CVS Health were worth $2,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas increased its position in 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 during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $32,000. First Community Trust NA lifted its holdings in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter worth approximately $34,000. Finally, Steph & Co. increased its stake in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 0.6 %

Shares of NYSE:CVS opened at $57.75 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock has a market cap of $72.50 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The firm’s 50 day moving average price is $58.29 and its 200 day moving average price is $63.86.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 EPS. As a group, equities research analysts predict that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.48.

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.