Weik Capital Management Reduces Position in CVS Health Co. (NYSE:CVS)

Weik Capital Management decreased its position in CVS Health Co. (NYSE:CVS) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,065 shares of the pharmacy operator’s stock after selling 1,775 shares during the period. Weik Capital Management’s holdings in CVS Health were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC increased its stake in shares of CVS Health by 48.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock worth $654,000 after acquiring an additional 2,653 shares during the period. Verity Asset Management Inc. lifted its holdings in CVS Health by 26.6% in the fourth quarter. Verity Asset Management Inc. now owns 5,069 shares of the pharmacy operator’s stock valued at $400,000 after acquiring an additional 1,065 shares during the period. Allegheny Financial Group LTD purchased a new stake in CVS Health in the 4th quarter worth approximately $227,000. Norges Bank acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $1,092,040,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of CVS Health in the 4th quarter valued at $1,015,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVS. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Barclays reduced 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 report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Up 0.8 %

Shares of NYSE:CVS opened at $57.98 on Friday. The business has a 50-day moving average price of $58.28 and a 200 day moving average price of $63.08. The company has a market capitalization of $72.94 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

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 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 company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared 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 of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s dividend payout ratio is presently 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.