AHL Investment Management Inc. Trims Position in CVS Health Co. (NYSE:CVS)

AHL Investment Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 7.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,060 shares of the pharmacy operator’s stock after selling 3,256 shares during the quarter. CVS Health makes up 1.9% of AHL Investment Management Inc.’s holdings, making the stock its 19th largest holding. AHL Investment Management Inc.’s holdings in CVS Health were worth $2,714,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Whitebox Advisors LLC purchased a new position in CVS Health during the 4th quarter valued at approximately $249,000. B&D White Capital Company LLC bought a new stake in CVS Health in the fourth quarter worth $417,000. Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health during the fourth quarter valued at $121,742,000. Lazard Asset Management LLC grew its stake in shares of CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock worth $192,617,000 after buying an additional 293,406 shares in the last quarter. Finally, Seizert Capital Partners LLC increased its holdings in shares of CVS Health by 22.8% in the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock worth $25,566,000 after buying an additional 105,708 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.8%

Shares of NYSE:CVS opened at $63.61 on Monday. The business’s 50 day moving average is $65.21 and its 200 day moving average is $59.94. The stock has a market cap of $80.47 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio is currently 63.48%.

Analyst Ratings Changes

Several research analysts recently commented on CVS shares. Barclays set a $79.00 price target on CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Mizuho raised their price target on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

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.