Financial Advocates Investment Management cut its position in shares of CVS Health Corp (NYSE:CVS) by 32.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,724 shares of the pharmacy operator’s stock after selling 3,222 shares during the quarter. Financial Advocates Investment Management’s holdings in CVS Health were worth $438,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wagner Wealth Management LLC bought a new position in CVS Health in the fourth quarter worth about $114,000. Camarda Financial Advisors LLC bought a new position in CVS Health in the second quarter worth about $102,000. Kiley Juergens Wealth Management LLC bought a new position in CVS Health in the second quarter worth about $103,000. Quantbot Technologies LP bought a new position in CVS Health in the first quarter worth about $103,000. Finally, Legacy Advisors LLC lifted its holdings in shares of CVS Health by 7,100.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after purchasing an additional 1,775 shares during the last quarter. Institutional investors own 83.56% of the company’s stock.

Shares of CVS Health stock opened at $74.53 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34. The firm has a market cap of $76.27 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $84.00.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to the consensus estimate of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. research analysts forecast that CVS Health Corp will post 7.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 25th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, July 24th. CVS Health’s dividend payout ratio is currently 33.90%.

In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

Several analysts recently issued reports on CVS shares. Loop Capital set a $68.00 price target on CVS Health and gave the stock a “hold” rating in a report on Monday, May 7th. Mizuho set a $95.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 13th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada cut their target price on CVS Health to $84.00 and set an “outperform” rating on the stock in a research note on Friday, June 29th. Finally, Citigroup reiterated a “buy” rating and issued a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $86.04.

About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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