Naples Global Advisors LLC Sells 4,173 Shares of CVS Health Co. (NYSE:CVS)

Naples Global Advisors LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 32.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,719 shares of the pharmacy operator’s stock after selling 4,173 shares during the period. Naples Global Advisors LLC’s holdings in CVS Health were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVS. LaFleur & Godfrey LLC boosted its holdings in shares of CVS Health by 49.9% during the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock worth $217,000 after purchasing an additional 1,610 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CVS Health by 25.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,645 shares of the pharmacy operator’s stock worth $5,884,000 after purchasing an additional 26,589 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of CVS Health by 7.9% during the fourth quarter. Cidel Asset Management Inc. now owns 31,943 shares of the pharmacy operator’s stock worth $1,434,000 after purchasing an additional 2,341 shares during the period. Vest Financial LLC lifted its holdings in CVS Health by 18.3% in the fourth quarter. Vest Financial LLC now owns 9,630 shares of the pharmacy operator’s stock worth $432,000 after buying an additional 1,492 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in CVS Health by 6.0% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 404,443 shares of the pharmacy operator’s stock worth $18,155,000 after buying an additional 22,926 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on CVS shares. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Wolfe Research raised their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Price Performance

Shares of CVS opened at $63.61 on Friday. The company has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $65.21 and a 200 day moving average of $59.90. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 63.48%.

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.