CVS Health Co. (NYSE:CVS) Holdings Trimmed by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in CVS Health Co. (NYSE:CVS) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,362,305 shares of the pharmacy operator’s stock after selling 33,100 shares during the quarter. Primecap Management Co. CA owned about 0.27% of CVS Health worth $198,578,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors lifted its position in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Capital International Investors grew its holdings in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the last quarter. Capital Research Global Investors raised its position in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.7 %

Shares of NYSE:CVS opened at $58.37 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $73.28 billion, a PE ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a fifty day moving average price of $58.31 and a 200 day moving average price of $62.88.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the company posted $2.21 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVS shares. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Barclays dropped their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI reduced their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Finally, Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.