CVS Health Corp (NYSE:CVS) Position Reduced by Hohimer Wealth Management LLC

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Hohimer Wealth Management LLC cut its position in shares of CVS Health Corp (NYSE:CVS) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,355 shares of the pharmacy operator’s stock after selling 3,095 shares during the quarter. CVS Health accounts for 1.2% of Hohimer Wealth Management LLC’s portfolio, making the stock its 13th largest position. Hohimer Wealth Management LLC’s holdings in CVS Health were worth $3,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Williams Jones Wealth Management LLC. increased its stake in shares of CVS Health by 0.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 15,527 shares of the pharmacy operator’s stock worth $1,154,000 after acquiring an additional 143 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its position in CVS Health by 0.9% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 16,214 shares of the pharmacy operator’s stock worth $1,205,000 after purchasing an additional 152 shares during the last quarter. Abbrea Capital LLC lifted its holdings in shares of CVS Health by 2.6% during the 1st quarter. Abbrea Capital LLC now owns 6,198 shares of the pharmacy operator’s stock valued at $368,000 after buying an additional 159 shares during the last quarter. Advisory Alpha LLC raised its position in CVS Health by 25.2% during the first quarter. Advisory Alpha LLC now owns 799 shares of the pharmacy operator’s stock valued at $49,000 after acquiring an additional 161 shares in the last quarter. Finally, Ballast Advisors LLC lifted its stake in CVS Health by 3.0% in the first quarter. Ballast Advisors LLC now owns 5,836 shares of the pharmacy operator’s stock valued at $346,000 after acquiring an additional 169 shares during the last quarter. 76.04% of the stock is owned by institutional investors.

CVS has been the subject of several recent research reports. Oppenheimer reissued a “hold” rating on shares of CVS Health in a research report on Wednesday, May 6th. Citigroup decreased their target price on shares of CVS Health from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. SunTrust Banks decreased their price objective on shares of CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Credit Suisse Group raised shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Thursday, May 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $80.35.

CVS Health stock traded up $1.08 during mid-day trading on Tuesday, reaching $63.70. The company had a trading volume of 6,560,322 shares, compared to its average volume of 7,508,654. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. CVS Health Corp has a 52 week low of $52.04 and a 52 week high of $77.03. The company has a 50 day moving average of $64.92 and a 200-day moving average of $65.29. The firm has a market cap of $81.85 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.40 and a beta of 0.76.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. The company had revenue of $66.76 billion during the quarter, compared to analysts’ expectations of $64.11 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, analysts predict that CVS Health Corp will post 7.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, July 22nd. CVS Health’s dividend payout ratio is 28.25%.

In other CVS Health news, EVP Alan Lotvin acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $63.14 per share, for a total transaction of $315,700.00. Following the purchase, the executive vice president now owns 15,161 shares in the company, valued at approximately $957,265.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 6,234 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $65.00, for a total transaction of $405,210.00. Following the completion of the transaction, the senior vice president now owns 4,817 shares of the company’s stock, valued at approximately $313,105. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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