Narwhal Capital Management Reduces Holdings in CVS Health Co. (NYSE:CVS)

Narwhal Capital Management reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,452 shares of the pharmacy operator’s stock after selling 2,127 shares during the period. Narwhal Capital Management’s holdings in CVS Health were worth $2,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CVS. Wedmont Private Capital increased its position in shares of CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 146 shares during the period. Moody National Bank Trust Division increased its holdings in shares of CVS Health by 0.7% in the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock valued at $1,776,000 after purchasing an additional 150 shares during the period. Landmark Financial Advisors LLC raised its stake in shares of CVS Health by 3.8% in the fourth quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock worth $329,000 after purchasing an additional 153 shares during the last quarter. Garland Capital Management Inc. boosted its position in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the last quarter. Finally, Sepio Capital LP increased its holdings in CVS Health by 1.7% in the 4th quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock worth $782,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CVS. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

CVS Health Trading Down 0.6 %

CVS stock opened at $57.75 on Friday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The business’s 50-day moving average is $58.29 and its 200 day moving average is $63.86. 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 stock has a market cap of $72.50 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.80 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) 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 in the previous year, the company posted $2.21 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend 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.