Prosperity Consulting Group LLC reduced its position in CVS Health Co. (NYSE:CVS – Free Report) by 18.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,534 shares of the pharmacy operator’s stock after selling 797 shares during the period. Prosperity Consulting Group LLC’s holdings in CVS Health were worth $209,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter valued at approximately $32,000. First Community Trust NA increased its stake in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter valued at $34,000. Steph & Co. lifted its stake in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.
CVS Health Trading Up 0.8 %
CVS Health stock opened at $57.98 on Monday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a market cap of $72.79 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The business has a 50 day moving average price of $58.28 and a two-hundred day moving average price of $63.00. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.
CVS Health Announces Dividend
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 dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.
Analyst Ratings Changes
CVS has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI lowered their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Finally, 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. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.
Check Out Our Latest Analysis on CVS Health
CVS Health 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.
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