CVS Health Co. (NYSE:CVS) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 254,121 shares of the pharmacy operator’s stock after selling 10,967 shares during the period. Amalgamated Bank’s holdings in CVS Health were worth $15,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the 4th quarter worth $34,000. Steph & Co. boosted its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring 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 about $36,000. Finally, Scarborough Advisors LLC purchased a new position in CVS Health during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 1.0 %

CVS opened at $58.42 on Thursday. The business has a fifty day moving average price of $58.33 and a 200 day moving average price of $62.74. 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 12 month low of $52.77 and a 12 month high of $83.25. The stock has a market capitalization 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 (NYSE:CVS) last released 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 net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. 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 report on Friday, August 9th. Finally, Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.