Pathway Financial Advisers LLC Trims Stake in CVS Health Co. (NYSE:CVS)

Pathway Financial Advisers LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,012 shares of the pharmacy operator’s stock after selling 1,345 shares during the quarter. Pathway Financial Advisers LLC’s holdings in CVS Health were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Brandes Investment Partners LP lifted its position in shares of CVS Health by 8.3% during the second quarter. Brandes Investment Partners LP now owns 1,653,045 shares of the pharmacy operator’s stock worth $97,553,000 after purchasing an additional 126,930 shares during the last quarter. Regal Investment Advisors LLC increased its stake in CVS Health by 16.4% in the 2nd quarter. Regal Investment Advisors LLC now owns 82,350 shares of the pharmacy operator’s stock worth $4,864,000 after buying an additional 11,617 shares during the period. Wallace Advisory Group LLC bought a new stake in CVS Health during the 2nd quarter valued at about $457,000. William B. Walkup & Associates Inc. purchased a new stake in CVS Health in the 2nd quarter valued at about $1,269,000. Finally, Magnolia Capital Advisors LLC bought a new position in CVS Health in the 2nd quarter worth about $795,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVS shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Monday, September 16th. Evercore ISI cut their price target 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. Barclays lowered their price objective on shares of 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. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company upped their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Trading Up 2.4 %

Shares of CVS Health stock opened at $62.84 on Tuesday. The firm’s 50 day simple moving average is $58.29 and its two-hundred day simple moving average is $61.77. The firm has a market capitalization of $78.89 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 0.81 and a beta of 0.53. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS 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 company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts predict 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. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. CVS Health’s dividend payout ratio is presently 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.