Fayerweather Charles Decreases Stock Position in CVS Health Corp (NYSE:CVS)

Fayerweather Charles lessened its stake in CVS Health Corp (NYSE:CVS) by 5.2% in the second quarter, Holdings Channel reports. The fund owned 21,803 shares of the pharmacy operator’s stock after selling 1,203 shares during the quarter. CVS Health makes up about 1.8% of Fayerweather Charles’ holdings, making the stock its 23rd biggest holding. Fayerweather Charles’ holdings in CVS Health were worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in CVS Health by 30.6% in the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after acquiring an additional 9,194,005 shares during the period. Geode Capital Management LLC boosted its holdings in CVS Health by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after acquiring an additional 4,376,604 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CVS Health by 28.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock worth $903,574,000 after acquiring an additional 3,041,266 shares during the period. Norges Bank purchased a new position in CVS Health in the 4th quarter worth approximately $840,254,000. Finally, Nordea Investment Management AB boosted its holdings in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after acquiring an additional 340,315 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Shares of CVS traded up $0.34 during trading on Friday, reaching $55.71. The company’s stock had a trading volume of 6,672,094 shares, compared to its average volume of 7,517,661. The business’s fifty day moving average price is $55.36. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The company has a market cap of $71.93 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.12. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company had revenue of $61.65 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period in the prior year, the company posted $1.48 EPS. CVS Health’s quarterly revenue was up 34.8% on a year-over-year basis. On average, analysts anticipate that CVS Health Corp will post 6.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio is currently 28.25%.

A number of research firms have weighed in on CVS. Bank of America restated a “buy” rating and issued a $74.00 price target (down previously from $82.00) on shares of CVS Health in a report on Wednesday, April 10th. CIBC restated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Mizuho set a $71.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 5th. Guggenheim began coverage on CVS Health in a report on Thursday, April 18th. They issued a “buy” rating and a $75.00 price target for the company. Finally, SunTrust Banks decreased their price target on CVS Health from $85.00 to $65.00 in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $76.48.

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.

Further Reading: Elliott Wave Theory

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.