Wealthspire Advisors LLC Sells 5,064 Shares of CVS Health Co. (NYSE:CVS)

Wealthspire Advisors LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 25.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,633 shares of the pharmacy operator’s stock after selling 5,064 shares during the quarter. Wealthspire Advisors LLC’s holdings in CVS Health were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CVS. Steph & Co. grew its position in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in CVS Health during the 4th quarter worth approximately $151,000. State of Tennessee Treasury Department raised its position in CVS Health by 10.4% in the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after purchasing an additional 58,836 shares during the last quarter. Finally, BOCHK Asset Management Ltd bought a new stake in shares of CVS Health during the fourth quarter worth $2,116,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $57.98 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.66 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. The firm has a 50 day moving average of $58.28 and a 200-day moving average of $63.00. The stock has a market capitalization of $72.79 billion, a PE ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS 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 business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors 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 dividend yield of 4.59%. CVS Health’s payout ratio is presently 46.75%.

Wall Street Analyst Weigh In

CVS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, September 10th. Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

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.