DekaBank Deutsche Girozentrale Reduces Stock Position in CVS Health Co. (NYSE:CVS)

DekaBank Deutsche Girozentrale decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 69.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 575,600 shares of the pharmacy operator’s stock after selling 1,326,308 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in CVS Health were worth $33,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the 4th quarter worth about $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $34,000. Steph & Co. grew its stake in CVS Health by 192.0% during 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 in the last quarter. Kapitalo Investimentos Ltda bought a new stake in CVS Health during the 4th quarter worth approximately $36,000. Finally, Scarborough Advisors LLC bought a new position in CVS Health in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $57.98 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The firm has a market cap of $72.94 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a 50-day moving average of $58.28 and a 200-day moving average of $63.08.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the company earned $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors 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 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVS. JPMorgan Chase & Co. lowered their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Robert W. Baird started coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, Barclays lowered their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $72.10.

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.