Salomon & Ludwin LLC Sells 1,189 Shares of CVS Health Co. (NYSE:CVS)

Salomon & Ludwin LLC lowered its position in CVS Health Co. (NYSE:CVS) by 37.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,972 shares of the pharmacy operator’s stock after selling 1,189 shares during the period. Salomon & Ludwin LLC’s holdings in CVS Health were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. USA Financial Formulas raised its holdings in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health in the fourth quarter worth $32,000. First Community Trust NA raised its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of CVS Health in the fourth quarter worth $34,000. Finally, Steph & Co. raised its holdings in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS traded up $0.11 on Monday, reaching $58.86. 3,600,751 shares of the company’s stock were exchanged, compared to its average volume of 11,241,070. The stock has a market cap of $73.89 billion, a PE ratio of 10.37, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock’s fifty day moving average price is $58.86 and its 200-day moving average price is $65.01. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly 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 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 period in the previous year, the business posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Monday, August 19th. Argus reduced their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Finally, Truist Financial restated a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.