Palouse Capital Management Inc. Sells 512 Shares of CVS Health Co. (NYSE:CVS)

Palouse Capital Management Inc. decreased its position in CVS Health Co. (NYSE:CVS) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,883 shares of the pharmacy operator’s stock after selling 512 shares during the quarter. Palouse Capital Management Inc.’s holdings in CVS Health were worth $1,470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gryphon Financial Partners LLC increased its stake in shares of CVS Health by 48.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after purchasing an additional 2,653 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in CVS Health during the 4th quarter valued at approximately $1,015,000. CreativeOne Wealth LLC raised its stake in CVS Health by 34.0% during the fourth quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock valued at $610,000 after buying an additional 1,961 shares during the last quarter. Pzena Investment Management LLC bought a new stake in CVS Health in the fourth quarter worth $65,083,000. Finally, Financial Advisors Network Inc. purchased a new stake in shares of CVS Health in the fourth quarter worth $218,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $58.42 on Thursday. The stock’s fifty day moving average is $58.33 and its 200 day moving average is $62.74. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a market cap of $73.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. Sell-side analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVS shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Monday. Barclays dropped their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.10.

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.