Truvestments Capital LLC Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Truvestments Capital LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,327 shares of the pharmacy operator’s stock after selling 566 shares during the period. Truvestments Capital LLC’s holdings in CVS Health were worth $186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Quadrature Capital Ltd bought a new position in CVS Health in the 1st quarter valued at $16,455,000. Canada Pension Plan Investment Board boosted its stake in CVS Health by 2.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,475,830 shares of the pharmacy operator’s stock valued at $117,712,000 after buying an additional 37,404 shares during the period. Capital World Investors grew its position in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Capital Research Global Investors increased its stake in CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the last quarter. Finally, Capital International Sarl raised its holdings in shares of CVS Health by 63.6% in the 1st quarter. Capital International Sarl now owns 33,051 shares of the pharmacy operator’s stock valued at $2,636,000 after acquiring an additional 12,852 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 4.0 %

NYSE:CVS traded up $2.35 during mid-day trading on Friday, reaching $61.00. 14,553,173 shares of the company’s stock traded hands, compared to its average volume of 7,959,074. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a 50 day moving average price of $58.85 and a 200-day moving average price of $67.38. The firm has a market capitalization of $76.58 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS. On average, sell-side analysts predict that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be issued a $0.665 dividend. The ex-dividend date is Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.36%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. The Goldman Sachs Group lowered their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird started coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Wells Fargo & Company lowered their price target on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. Finally, Bank of America cut their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased 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 at this link. Corporate 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.