CVS Health Co. (NYSE:CVS) Holdings Decreased by Valley National Advisers Inc.

Valley National Advisers Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 76.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,934 shares of the pharmacy operator’s stock after selling 18,762 shares during the quarter. Valley National Advisers Inc.’s holdings in CVS Health were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Vanguard Group Inc. grew its stake in CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares in the last quarter. Capital World Investors grew its stake in shares of 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 buying an additional 3,232,172 shares in the last quarter. Capital International Investors grew its stake in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $1,092,040,000. Finally, Capital Research Global Investors grew its stake in shares of CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after buying an additional 184,297 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 1.4 %

Shares of CVS opened at $58.35 on Friday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a 50-day moving average price of $59.04 and a two-hundred day moving average price of $65.67. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market cap of $73.25 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target 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. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and reduced their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Barclays reduced their target price 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. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.24.

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.