Xponance Inc. Reduces Holdings in CVS Health Co. (NYSE:CVS)

Xponance Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 180,583 shares of the pharmacy operator’s stock after selling 7,245 shares during the quarter. Xponance Inc.’s holdings in CVS Health were worth $10,665,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVS. Wells Fargo & Company increased their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays reduced their price target on shares of 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 dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Trading Up 0.1 %

Shares of CVS stock opened at $57.57 on Tuesday. The business has a 50-day moving average of $58.28 and a 200 day moving average of $62.32. 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 Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a market capitalization of $72.27 billion, a PE ratio of 10.12, 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, beating 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 firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

CVS Health 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.