First City Capital Management Inc. Sells 8,597 Shares of CVS Health Co. (NYSE:CVS)

First City Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 39.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,058 shares of the pharmacy operator’s stock after selling 8,597 shares during the quarter. First City Capital Management Inc.’s holdings in CVS Health were worth $771,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Wedmont Private Capital raised its position in shares of CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 146 shares in the last quarter. Moody National Bank Trust Division increased its holdings in CVS Health by 0.7% in the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after purchasing an additional 150 shares in the last quarter. Landmark Financial Advisors LLC boosted its holdings in shares of CVS Health by 3.8% during the 4th quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock worth $329,000 after buying an additional 153 shares in the last quarter. Garland Capital Management Inc. increased its stake in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares in the last quarter. Finally, Sepio Capital LP lifted its position in shares of CVS Health by 1.7% during the 4th quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock valued at $782,000 after acquiring an additional 163 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVS. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Barclays reduced their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Stock Down 1.5 %

Shares of NYSE CVS opened at $57.51 on Friday. The business’s fifty day moving average price is $58.31 and its 200-day moving average price is $62.52. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market capitalization of $72.20 billion, a PE ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 0.53. 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 issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. 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 currently 46.75%.

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.