CVS Health Co. (NYSE:CVS) Shares Sold by Burney Co.

Burney Co. reduced its stake in CVS Health Co. (NYSE:CVS) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,043 shares of the pharmacy operator’s stock after selling 1,845 shares during the period. Burney Co.’s holdings in CVS Health were worth $2,396,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Venturi Wealth Management LLC grew its holdings in shares of CVS Health by 42.6% during the fourth quarter. Venturi Wealth Management LLC now owns 756 shares of the pharmacy operator’s stock worth $60,000 after purchasing an additional 226 shares during the last quarter. StrategIQ Financial Group LLC acquired a new stake in CVS Health in the fourth quarter valued at about $208,000. Heartland Bank & Trust Co acquired a new stake in CVS Health in the fourth quarter valued at about $288,000. Trust Point Inc. acquired a new stake in CVS Health in the fourth quarter valued at about $623,000. Finally, WealthShield Partners LLC lifted its position in CVS Health by 3.2% in the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 141 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.71 during trading on Friday, hitting $59.32. 8,695,521 shares of the company were exchanged, compared to its average volume of 9,014,376. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock has a market capitalization of $74.47 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 0.57 and a beta of 0.52. The firm has a 50 day moving average price of $59.27 and a 200 day moving average price of $66.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. On average, equities analysts expect that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.48%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVS. SVB Leerink restated a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Argus reduced 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. The Goldman Sachs Group reduced their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays reduced their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, Leerink Partnrs downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $75.05.

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.