Orca Investment Management LLC Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Orca Investment Management LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,134 shares of the pharmacy operator’s stock after selling 791 shares during the quarter. CVS Health accounts for 1.8% of Orca Investment Management LLC’s holdings, making the stock its 19th largest holding. Orca Investment Management LLC’s holdings in CVS Health were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. USA Financial Formulas grew its holdings in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health in the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of CVS Health during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of 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. The company has a 50-day simple moving average of $58.29 and a 200-day simple moving average of $63.78. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a market capitalization of $72.50 billion, a PE ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company 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 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on CVS. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Barclays dropped their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

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.