Donald L. Hagan LLC Sells 814 Shares of CVS Health Co. (NYSE:CVS)

Donald L. Hagan LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,393 shares of the pharmacy operator’s stock after selling 814 shares during the quarter. Donald L. Hagan LLC’s holdings in CVS Health were worth $496,000 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. Norges Bank acquired a new stake in CVS Health in the 4th quarter valued at approximately $1,092,040,000. Capital International Investors raised its holdings in shares of CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 573.8% in the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock worth $442,944,000 after purchasing an additional 4,729,207 shares in the last quarter. Capital World Investors grew its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.79 during trading on Friday, reaching $58.35. The company’s stock had a trading volume of 7,442,666 shares, compared to its average volume of 11,432,018. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a market cap of $73.25 billion, a PE ratio of 10.25, a P/E/G ratio of 0.57 and a beta of 0.52. The business’s 50-day moving average price is $59.04 and its 200-day moving average price is $65.55. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts forecast that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analyst Upgrades and Downgrades

CVS has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Finally, Mizuho decreased their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $73.24.

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.