Brown Brothers Harriman & Co. Sells 5,819 Shares of CVS Health Co. (NYSE:CVS)

Brown Brothers Harriman & Co. lowered its stake in CVS Health Co. (NYSE:CVS) by 48.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,253 shares of the pharmacy operator’s stock after selling 5,819 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CVS Health were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital International Investors increased its holdings in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC raised its position in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital World Investors lifted its stake in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of CVS Health in the fourth quarter worth $111,209,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 1.0 %

NYSE CVS opened at $58.42 on Thursday. The company has a market cap of $73.34 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 1-year low of $52.77 and a 1-year 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. The company has a 50 day moving average of $58.33 and a 200-day moving average of $62.74.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. On average, equities research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVS shares. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.10.

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.