CVS Health Co. (NYSE:CVS) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 47.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,173 shares of the pharmacy operator’s stock after selling 12,823 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CVS Health were worth $837,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CVS. Gryphon Financial Partners LLC increased its stake in shares of CVS Health by 48.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock worth $654,000 after purchasing an additional 2,653 shares in the last quarter. CreativeOne Wealth LLC increased its position in CVS Health by 34.0% during the fourth quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock worth $610,000 after buying an additional 1,961 shares in the last quarter. Financial Advisors Network Inc. acquired a new position in shares of CVS Health in the fourth quarter worth $218,000. Allstate Corp lifted its position in shares of CVS Health by 13.3% in the fourth quarter. Allstate Corp now owns 4,207 shares of the pharmacy operator’s stock valued at $332,000 after acquiring an additional 493 shares in the last quarter. Finally, BCU Wealth Advisors LLC purchased a new stake in CVS Health during the 4th quarter worth about $598,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVS has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Evercore ISI lowered their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Price Performance

NYSE:CVS opened at $58.40 on Friday. The firm has a market cap of $73.31 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company’s 50-day moving average price is $58.34 and its two-hundred day moving average price is $62.71. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

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 analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the company posted $2.21 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.55%. CVS Health’s payout ratio is presently 46.75%.

CVS Health 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.