HCR Wealth Advisors Cuts Stock Holdings in CVS Health Corp (NYSE:CVS)

HCR Wealth Advisors decreased its holdings in shares of CVS Health Corp (NYSE:CVS) by 5.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,241 shares of the pharmacy operator’s stock after selling 233 shares during the period. HCR Wealth Advisors’ holdings in CVS Health were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Abbrea Capital LLC increased its position in shares of CVS Health by 2.6% in the first quarter. Abbrea Capital LLC now owns 6,198 shares of the pharmacy operator’s stock valued at $368,000 after buying an additional 159 shares in the last quarter. Advisory Alpha LLC increased its position in CVS Health by 25.2% during the 1st quarter. Advisory Alpha LLC now owns 799 shares of the pharmacy operator’s stock worth $49,000 after purchasing an additional 161 shares in the last quarter. Ballast Advisors LLC increased its position in CVS Health by 3.0% during the 1st quarter. Ballast Advisors LLC now owns 5,836 shares of the pharmacy operator’s stock worth $346,000 after purchasing an additional 169 shares in the last quarter. Eudaimonia Partners LLC increased its position in CVS Health by 1.3% during the 1st quarter. Eudaimonia Partners LLC now owns 13,531 shares of the pharmacy operator’s stock worth $803,000 after purchasing an additional 171 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its position in CVS Health by 4.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,715 shares of the pharmacy operator’s stock worth $220,000 after purchasing an additional 174 shares in the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.

CVS Health stock traded down $1.06 during midday trading on Friday, hitting $62.94. 9,200,682 shares of the company were exchanged, compared to its average volume of 6,159,701. The company’s fifty day moving average price is $63.99 and its 200-day moving average price is $64.46. The company has a market cap of $82.27 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.39 and a beta of 0.76. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.99 and a quick ratio of 0.70. CVS Health Corp has a fifty-two week low of $52.04 and a fifty-two week high of $77.03.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. The firm had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. CVS Health’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. On average, analysts expect that CVS Health Corp will post 7.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.18%. The ex-dividend date is Wednesday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

In related news, EVP Alan Lotvin purchased 5,000 shares of CVS Health stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now owns 15,161 shares of the company’s stock, valued at approximately $957,265.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Several analysts have commented on the company. Morgan Stanley lifted their price target on CVS Health from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. SVB Leerink assumed coverage on CVS Health in a report on Wednesday, July 1st. They issued a “market perform” rating and a $72.00 price target for the company. SunTrust Banks lowered their price target on CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 13th. Royal Bank of Canada restated a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. Finally, Robert W. Baird lifted their price target on CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.35.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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