Estabrook Capital Management Has $2.50 Million Stake in CVS Health Co. (NYSE:CVS)

Estabrook Capital Management lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 3.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 42,371 shares of the pharmacy operator’s stock after selling 1,619 shares during the period. Estabrook Capital Management’s holdings in CVS Health were worth $2,502,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter worth approximately $32,000. First Community Trust NA lifted its position in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC acquired a new stake in CVS Health during the fourth quarter worth $34,000. Steph & Co. increased its holdings in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 1.5 %

NYSE CVS opened at $57.51 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $72.20 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The stock has a fifty day moving average of $58.31 and a 200-day moving average of $62.52.

CVS Health (NYSE:CVS) last announced 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 during 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 company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 EPS. On average, equities research analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Monday, September 16th. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Barclays cut 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. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.10.

About CVS Health

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.