SYSTM Wealth Solutions LLC Cuts Stock Position in CVS Health Co. (NYSE:CVS)

SYSTM Wealth Solutions LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 98.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 555 shares of the pharmacy operator’s stock after selling 45,232 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in CVS Health were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the fourth quarter valued at about $32,000. First Community Trust NA lifted its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in CVS Health in the fourth quarter worth $34,000. Steph & Co. raised its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC grew its stake in shares of CVS Health by 11,840.0% during the 2nd 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 owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $58.40 on Friday. The business’s 50-day moving average price is $58.34 and its 200-day moving average price is $62.71. The firm has a market capitalization of $73.31 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.79 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 announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the business posted $2.21 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on CVS. Evercore ISI dropped their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Robert W. Baird assumed coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.