Gryphon Financial Partners LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

Gryphon Financial Partners LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 20.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,053 shares of the pharmacy operator’s stock after selling 1,025 shares during the period. Gryphon Financial Partners LLC’s holdings in CVS Health were worth $239,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVS. Norges Bank purchased a new position in CVS Health during the 4th quarter worth $1,092,040,000. Capital International Investors raised its holdings in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital World Investors increased its position in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $56.94 on Wednesday. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a 50 day simple moving average of $58.25 and a 200-day simple moving average of $63.39. The firm has a market cap of $71.63 billion, a PE ratio of 10.01, a P/E/G ratio of 0.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted 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. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays cut their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price 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.