Pinebridge Investments L.P. Trims Position in CVS Health (CVS)

Pinebridge Investments L.P. decreased its holdings in CVS Health (NYSE:CVS) by 32.2% in the 4th quarter, Holdings Channel reports. The firm owned 214,995 shares of the pharmacy operator’s stock after selling 102,290 shares during the period. Pinebridge Investments L.P.’s holdings in CVS Health were worth $15,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CVS. Wealthcare Advisory Partners LLC increased its stake in CVS Health by 330.3% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares during the period. Fieldpoint Private Securities LLC increased its stake in CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares during the period. Arcadia Investment Management Corp MI increased its stake in CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares during the period. MPS Loria Financial Planners LLC acquired a new position in CVS Health in the 2nd quarter valued at $119,000. Finally, IFG Advisory LLC acquired a new position in CVS Health in the 4th quarter valued at $1,504,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

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Several equities analysts have issued reports on CVS shares. Mizuho set a $95.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. SunTrust Banks boosted their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Needham & Company LLC boosted their price objective on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Tigress Financial reissued a “buy” rating on shares of CVS Health in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada set a $89.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.81.

In other news, EVP Helena Foulkes sold 19,965 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

NYSE:CVS opened at $63.38 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. CVS Health has a fifty-two week low of $60.14 and a fifty-two week high of $84.00. The firm has a market cap of $64,301.04, a PE ratio of 10.74, a P/E/G ratio of 1.05 and a beta of 1.05.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same period in the prior year, the company posted $1.71 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. equities research analysts expect that CVS Health will post 6.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.16%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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