Sei Investments Co. Sells 120,704 Shares of CVS Health Co. (NYSE:CVS)

Sei Investments Co. decreased its holdings in CVS Health Co. (NYSE:CVS) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 922,012 shares of the pharmacy operator’s stock after selling 120,704 shares during the period. Sei Investments Co. owned approximately 0.07% of CVS Health worth $54,453,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVS. Gryphon Financial Partners LLC grew its holdings in shares of CVS Health by 48.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after purchasing an additional 2,653 shares during the last quarter. TCW Group Inc. acquired a new position in shares of CVS Health during the fourth quarter worth $1,605,000. Congress Wealth Management LLC DE lifted its stake in shares of CVS Health by 126.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock valued at $539,000 after acquiring an additional 3,806 shares during the last quarter. Johnson Financial Group Inc. grew its position in CVS Health by 96.6% during the 4th quarter. Johnson Financial Group Inc. now owns 6,994 shares of the pharmacy operator’s stock worth $552,000 after acquiring an additional 3,437 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in CVS Health by 9.1% in the 4th quarter. Glassman Wealth Services now owns 4,232 shares of the pharmacy operator’s stock worth $334,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI dropped their target price 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. Barclays decreased their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Trading Down 1.5 %

NYSE:CVS opened at $57.51 on Monday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a 50-day moving average price of $58.31 and a two-hundred day moving average price of $62.44. The firm has a market cap of $72.20 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

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. The business 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% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. On average, equities analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend 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.