CVS Health Co. (NYSE:CVS) Holdings Cut by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 12.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,295 shares of the pharmacy operator’s stock after selling 4,337 shares during the period. Sigma Investment Counselors Inc.’s holdings in CVS Health were worth $1,848,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVS. USA Financial Formulas grew its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the fourth quarter worth approximately $34,000. Steph & Co. lifted its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in CVS Health in the fourth quarter worth approximately $36,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 1.7 %

Shares of NYSE CVS traded up $1.01 during midday trading on Friday, reaching $58.75. 9,614,381 shares of the stock were exchanged, compared to its average volume of 11,289,169. The company has a market capitalization of $73.75 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.57 and a beta of 0.52. 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 business has a 50-day simple moving average of $58.86 and a two-hundred day simple moving average of $65.09.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. As a group, equities research analysts expect that CVS Health Co. will post 7 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. Evercore ISI reduced their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. SVB Leerink reiterated a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Finally, Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.24.

CVS Health 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.