Harbour Investments Inc. Sells 350 Shares of CVS Health Co. (NYSE:CVS)

Harbour Investments Inc. lowered its holdings in CVS Health Co. (NYSE:CVS) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,676 shares of the pharmacy operator’s stock after selling 350 shares during the period. Harbour Investments Inc.’s holdings in CVS Health were worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. USA Financial Formulas grew its position in CVS Health by 573.2% during 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 in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the fourth quarter worth $32,000. First Community Trust NA raised its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in CVS Health during the fourth quarter worth about $34,000. Finally, Steph & Co. grew its stake in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.5 %

Shares of NYSE:CVS opened at $56.96 on Friday. The firm has a market cap of $71.51 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The business has a fifty day simple moving average of $58.67 and a 200 day simple moving average of $64.71. 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 posted its quarterly earnings data 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 company 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 13.53% and a net margin of 2.03%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Analysts predict that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors 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 4.67%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

CVS has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company boosted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.