QRG Capital Management Inc. Has $8.04 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

QRG Capital Management Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,044 shares of the pharmacy operator’s stock after selling 632 shares during the quarter. QRG Capital Management Inc.’s holdings in CVS Health were worth $8,035,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Wedmont Private Capital grew its stake in shares of CVS Health by 0.8% during the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after purchasing an additional 146 shares during the period. Bank of Stockton increased its stake in shares of CVS Health by 4.5% in the 1st quarter. Bank of Stockton now owns 3,467 shares of the pharmacy operator’s stock valued at $277,000 after acquiring an additional 150 shares during the last quarter. Moody National Bank Trust Division raised its position in shares of CVS Health by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock valued at $1,776,000 after acquiring an additional 150 shares during the period. Landmark Financial Advisors LLC grew its holdings in CVS Health by 3.8% during the fourth quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after purchasing an additional 153 shares during the period. Finally, Sepio Capital LP increased its stake in CVS Health by 1.7% in the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock valued at $782,000 after purchasing an additional 163 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 1.3 %

Shares of NYSE:CVS traded down $0.74 during midday trading on Friday, hitting $57.11. The stock had a trading volume of 8,345,205 shares, compared to its average volume of 11,546,901. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $59.45 and its 200-day simple moving average is $66.19. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $71.69 billion, a P/E ratio of 10.04, a PEG ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the business earned $2.21 EPS. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.66%. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Argus lowered their price objective on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.19.

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.