Twin Lakes Capital Management LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Twin Lakes Capital Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 8.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,267 shares of the pharmacy operator’s stock after selling 2,696 shares during the quarter. CVS Health accounts for approximately 1.0% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Twin Lakes Capital Management LLC’s holdings in CVS Health were worth $1,788,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wedmont Private Capital grew its stake in shares of CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 146 shares in the last quarter. Moody National Bank Trust Division grew its position in CVS Health by 0.7% in the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after acquiring an additional 150 shares in the last quarter. Garland Capital Management Inc. increased its stake in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares during the last quarter. Silverlake Wealth Management LLC raised its position in CVS Health by 1.6% during the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after purchasing an additional 173 shares during the period. Finally, Plimoth Trust Co. LLC lifted its stake in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 4.0 %

NYSE CVS opened at $61.38 on Monday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53. The company’s 50-day simple moving average is $58.20 and its two-hundred day simple moving average is $61.87.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. Equities analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.33%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVS. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Monday, September 16th. Evercore ISI dropped their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

About CVS Health

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.