PFG Investments LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

PFG Investments LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,866 shares of the pharmacy operator’s stock after selling 2,342 shares during the quarter. PFG Investments LLC’s holdings in CVS Health were worth $1,823,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of 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 raised its stake 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 valued at $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. Capital International Investors boosted its holdings in CVS Health by 12.5% in the first 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 in the last quarter. Norges Bank purchased a new stake in shares of CVS Health in the fourth quarter worth $1,092,040,000. Finally, Capital Research Global Investors raised its position in shares of 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 purchasing an additional 184,297 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CVS. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $72.48.

CVS Health Stock Down 2.2 %

CVS opened at $56.47 on Tuesday. The stock has a market cap of $71.04 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm’s fifty day moving average is $58.26 and its 200 day moving average is $63.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating 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 business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

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.