CVS Health Co. (NYSE:CVS) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in CVS Health Co. (NYSE:CVS) by 49.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,285 shares of the pharmacy operator’s stock after selling 6,251 shares during the quarter. Ritholtz Wealth Management’s holdings in CVS Health were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Canoe Financial LP boosted its holdings in shares of CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after acquiring an additional 859,134 shares during the last quarter. Steph & Co. grew its position in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Forum Financial Management LP lifted its holdings in shares of CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after buying an additional 2,901 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in CVS Health during the fourth quarter worth about $151,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $58.06 on Friday. The company has a market cap of $72.89 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.80 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 company’s 50-day moving average price is $58.32 and its 200-day moving average price is $64.00. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its 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. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.58%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays decreased their price target 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Monday, August 19th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. Evercore ISI lowered their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.48.

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.