Waters Parkerson & CO. LLC Sells 20,203 Shares of CVS Health Co. (NYSE:CVS)

Waters Parkerson & CO. LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 404,626 shares of the pharmacy operator’s stock after selling 20,203 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in CVS Health were worth $23,897,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC boosted 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. CreativeOne Wealth LLC grew its holdings in CVS Health by 34.0% during the 4th quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock worth $610,000 after acquiring an additional 1,961 shares during the last quarter. Financial Advisors Network Inc. acquired a new position in CVS Health in the 4th quarter valued at approximately $218,000. Allstate Corp raised its stake in shares of CVS Health by 13.3% during the fourth quarter. Allstate Corp now owns 4,207 shares of the pharmacy operator’s stock valued at $332,000 after acquiring an additional 493 shares during the last quarter. Finally, BCU Wealth Advisors LLC bought a new stake in shares of CVS Health in the fourth quarter worth $598,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.0 %

NYSE CVS opened at $58.40 on Friday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The business has a 50 day moving average price of $58.34 and a 200-day moving average price of $62.71. 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 market cap of $73.31 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays lowered their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Evercore ISI lowered their price target 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. Robert W. Baird started coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Monday. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently 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.