CVS Health Co. (NYSE:CVS) Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV reduced its position in CVS Health Co. (NYSE:CVS) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,021 shares of the pharmacy operator’s stock after selling 3,024 shares during the quarter. CVS Health comprises about 1.0% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 23rd biggest position. Resources Management Corp CT ADV’s holdings in CVS Health were worth $6,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Steph & Co. grew its position in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. Douglas Lane & Associates LLC grew its stake in shares of CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of CVS Health during the fourth quarter worth about $151,000. State of Tennessee Treasury Department boosted its stake in shares of CVS Health by 10.4% during the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after buying an additional 58,836 shares during the last quarter. Finally, BOCHK Asset Management Ltd acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $2,116,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVS. JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Monday, September 16th. 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 report on Friday, August 9th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Trading Up 0.1 %

Shares of NYSE:CVS opened at $57.57 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company’s 50-day moving average price is $58.28 and its two-hundred day moving average price is $62.32. The stock has a market capitalization of $72.27 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $91.41 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is 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.