Wealth Alliance Sells 2,281 Shares of CVS Health Co. (NYSE:CVS)

Wealth Alliance lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,940 shares of the pharmacy operator’s stock after selling 2,281 shares during the quarter. Wealth Alliance’s holdings in CVS Health were worth $764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter worth about $32,000. First Community Trust NA boosted its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter worth about $34,000. Steph & Co. boosted its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Finally, ORG Partners LLC boosted its position in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Barclays lowered their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Evercore ISI lowered their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Up 1.0 %

CVS Health stock opened at $58.42 on Thursday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a 50 day moving average price of $58.33 and a 200-day moving average price of $62.74. The company has a market capitalization of $73.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.79 and a beta of 0.53. 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 (NYSE:CVS) last released 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 net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the firm earned $2.21 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

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