Farmers & Merchants Investments Inc. Sells 2,022 Shares of CVS Health Co. (NYSE:CVS)

Farmers & Merchants Investments Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,354 shares of the pharmacy operator’s stock after selling 2,022 shares during the period. Farmers & Merchants Investments Inc.’s holdings in CVS Health were worth $18,034,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors grew its position in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors grew its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at about $1,092,040,000. Finally, Capital Research Global Investors grew its position in shares of CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.73 during trading on Friday, reaching $58.80. The stock had a trading volume of 454,001 shares, compared to its average volume of 11,113,616. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The business’s 50-day moving average price is $58.32 and its 200 day moving average price is $64.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market capitalization of $73.82 billion, a PE ratio of 10.20, a P/E/G ratio of 0.80 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 6.52 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVS shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. 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 target price on the stock. Baird R W raised CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $72.48.

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.