Creative Planning Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Creative Planning lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 20.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,154 shares of the pharmacy operator’s stock after selling 51,042 shares during the quarter. Creative Planning’s holdings in CVS Health were worth $11,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the 4th quarter valued at $34,000. Steph & Co. boosted its holdings 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 purchasing an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of CVS Health in the fourth quarter valued at $36,000. Finally, Scarborough Advisors LLC acquired a new position in CVS Health in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CVS. Barclays dropped 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. Wells Fargo & Company increased 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 note on Monday, August 12th. Evercore ISI lowered their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Trading Down 2.1 %

Shares of CVS opened at $61.54 on Wednesday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a 50-day moving average price of $58.37 and a 200 day moving average price of $61.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization of $77.26 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly 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. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 4.32%. CVS Health’s payout ratio is 46.75%.

CVS Health Company 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.