Balanced Rock Investment Advisors LLC Sells 431 Shares of CVS Health Co. (NYSE:CVS)

Balanced Rock Investment Advisors LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 3,445 shares of the pharmacy operator’s stock after selling 431 shares during the period. Balanced Rock Investment Advisors LLC’s holdings in CVS Health were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in CVS Health during the 4th quarter worth approximately $1,092,040,000. Capital International Investors raised its position in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Pzena Investment Management LLC lifted its stake in shares of CVS Health by 573.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after buying an additional 4,729,207 shares in the last quarter. Capital World Investors boosted its holdings in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the period. Finally, Clearbridge Investments LLC increased its stake in CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.5 %

Shares of CVS traded up $0.27 during midday trading on Friday, hitting $57.24. The stock had a trading volume of 8,188,057 shares, compared to its average volume of 11,181,803. The stock’s 50 day moving average is $58.50 and its 200 day moving average is $64.52. The firm has a market cap of $71.86 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.65%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Ratings Changes

CVS has been the subject of a number of recent analyst reports. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Barclays cut their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Robert W. Baird assumed coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.24.

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.