Burney Co. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. USA Financial Formulas increased its position in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth about $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the fourth quarter worth about $34,000. Steph & Co. grew its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of CVS Health during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVS shares. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $75.05.

CVS Health Trading Down 1.2 %

Shares of CVS stock traded down $0.71 on Friday, reaching $59.32. 8,695,521 shares of the company’s stock were exchanged, compared to its average volume of 9,014,376. The company’s fifty day simple moving average is $59.27 and its 200 day simple moving average is $66.86. The stock has a market capitalization of $74.47 billion, a PE ratio of 10.43, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. As a group, analysts forecast that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

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