Janiczek Wealth Management LLC Has $66,000 Stake in CVS Health Co. (NYSE:CVS)

Janiczek Wealth Management LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 45.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 954 shares of the pharmacy operator’s stock after selling 799 shares during the quarter. Janiczek Wealth Management LLC’s holdings in CVS Health were worth $66,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Live Oak Investment Partners acquired a new stake in CVS Health in the fourth quarter worth $25,000. Freedom Wealth Alliance LLC bought a new position in CVS Health during the fourth quarter worth about $40,000. True Wealth Design LLC bought a new stake in shares of CVS Health in the fourth quarter worth about $48,000. 25 LLC bought a new position in shares of CVS Health during the 1st quarter valued at about $39,000. Finally, General Partner Inc. bought a new stake in CVS Health during the 1st quarter worth approximately $47,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

NYSE:CVS opened at $70.87 on Monday. The firm’s 50-day simple moving average is $70.83 and its 200 day simple moving average is $71.77. CVS Health Co. has a 52 week low of $64.62 and a 52 week high of $104.83. The firm has a market cap of $91.03 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 1.33 and a beta of 0.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $2.40 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 21st were issued a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health’s dividend payout ratio is currently 106.14%.

Insider Activity

In related news, SVP James David Clark sold 25,759 shares of CVS Health stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total value of $1,929,864.28. Following the transaction, the senior vice president now directly owns 4,698 shares of the company’s stock, valued at $351,974.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVS. Barclays reduced their price target on shares of CVS Health from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. JPMorgan Chase & Co. dropped their price target on CVS Health from $114.00 to $106.00 in a research note on Friday, July 7th. Morgan Stanley reduced their price objective on CVS Health from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. Edward Jones downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $91.00 price objective on shares of CVS Health in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $96.00.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.