Tocqueville Asset Management L.P. Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Tocqueville Asset Management L.P. trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,416 shares of the pharmacy operator’s stock after selling 352 shares during the period. Tocqueville Asset Management L.P.’s holdings in CVS Health were worth $990,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVS. Norges Bank purchased a new position in CVS Health during the fourth quarter valued at $1,092,040,000. Capital International Investors lifted its position in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC lifted its position in CVS Health by 573.8% during the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after purchasing an additional 4,729,207 shares during the last quarter. Clearbridge Investments LLC lifted its position in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. Finally, Junto Capital Management LP bought a new position in CVS Health during the fourth quarter valued at $111,209,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 0.6 %

CVS Health stock traded down $0.34 during trading hours on Friday, hitting $59.57. The company had a trading volume of 7,143,914 shares, compared to its average volume of 9,035,345. The firm has a market cap of $74.78 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a 50-day moving average price of $58.64 and a two-hundred day moving average price of $68.14.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.47%. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several equities analysts have commented on CVS shares. Mizuho lowered their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. SVB Leerink reiterated a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. The Goldman Sachs Group dropped their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Activity

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Company 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.