Curbstone Financial Management Corp Has $1.13 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Curbstone Financial Management Corp cut its position in CVS Health Co. (NYSE:CVS) by 9.3% during the 1st quarter, HoldingsChannel reports. The firm owned 16,728 shares of the pharmacy operator’s stock after selling 1,718 shares during the quarter. Curbstone Financial Management Corp’s holdings in CVS Health were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the period. MV Capital Management Inc. raised its holdings in CVS Health by 63.9% in the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock worth $50,000 after purchasing an additional 289 shares during the period. Integrated Advisors Network LLC raised its holdings in CVS Health by 162.1% in the first quarter. Integrated Advisors Network LLC now owns 62,545 shares of the pharmacy operator’s stock worth $4,237,000 after purchasing an additional 38,678 shares during the period. Atwood & Palmer Inc. raised its holdings in CVS Health by 228.0% in the first quarter. Atwood & Palmer Inc. now owns 820 shares of the pharmacy operator’s stock worth $56,000 after purchasing an additional 570 shares during the period. Finally, SG Americas Securities LLC raised its holdings in CVS Health by 606.2% in the first quarter. SG Americas Securities LLC now owns 203,407 shares of the pharmacy operator’s stock worth $13,781,000 after purchasing an additional 174,606 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.5%

CVS Health stock opened at $64.21 on Wednesday. The firm has a market capitalization of $81.22 billion, a PE ratio of 17.54, a P/E/G ratio of 0.98 and a beta of 0.56. The company’s 50-day moving average is $65.06 and its 200-day moving average is $60.01. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the prior year, the business earned $1.31 EPS. CVS Health’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.14%. CVS Health’s dividend payout ratio (DPR) is currently 63.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Truist Financial raised their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $74.75.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

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.