Wealth Advisors of Tampa Bay LLC Sells 920 Shares of CVS Health Co. (NYSE:CVS)

Wealth Advisors of Tampa Bay LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,316 shares of the pharmacy operator’s stock after selling 920 shares during the quarter. Wealth Advisors of Tampa Bay LLC’s holdings in CVS Health were worth $1,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the 4th quarter valued at $32,000. First Community Trust NA raised its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter worth about $34,000. Steph & Co. boosted its stake 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 during the period. Finally, ORG Partners LLC raised its position in CVS Health by 11,840.0% in 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 during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVS shares. JPMorgan Chase & Co. dropped their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Robert W. Baird assumed coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Stock Down 0.0 %

Shares of CVS Health stock opened at $58.40 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market cap of $73.31 billion, a P/E ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. The firm’s 50 day moving average price is $58.34 and its 200-day moving average price is $62.71. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.55%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.