Advisors Asset Management Inc. trimmed its position in CVS Health Corp (NYSE:CVS) by 16.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,125 shares of the pharmacy operator’s stock after selling 29,985 shares during the quarter. Advisors Asset Management Inc.’s holdings in CVS Health were worth $9,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Adviser Investments LLC lifted its stake in shares of CVS Health by 43.3% in the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after buying an additional 905 shares during the last quarter. Keystone Financial Planning Inc. raised its stake in CVS Health by 44.5% during the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after purchasing an additional 18,176 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in CVS Health by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after purchasing an additional 300,887 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in CVS Health by 21.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after purchasing an additional 175,725 shares during the last quarter. Finally, Point View Wealth Management Inc. raised its stake in CVS Health by 8.4% during the 2nd quarter. Point View Wealth Management Inc. now owns 17,095 shares of the pharmacy operator’s stock valued at $1,100,000 after purchasing an additional 1,320 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

Shares of CVS Health stock opened at $74.53 on Friday. The firm has a market capitalization of $80.14 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts expect that CVS Health Corp will post 7.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at approximately $910,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the sale, the executive vice president now directly owns 55,162 shares in the company, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock worth $3,392,097 in the last three months. Insiders own 0.53% of the company’s stock.

CVS has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup reiterated a “buy” rating and set a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Mizuho reiterated a “buy” rating on shares of CVS Health in a research note on Saturday, June 30th. Bank of America upped their target price on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.31.

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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