Axxcess Wealth Management LLC Sells 4,511 Shares of CVS Health Co. (NYSE:CVS)

Axxcess Wealth Management LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 31.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,662 shares of the pharmacy operator’s stock after selling 4,511 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CVS Health were worth $608,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Capital International Investors increased its stake in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital Research Global Investors increased its stake in shares of CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after purchasing an additional 389,166 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVS shares. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Stock Performance

CVS Health stock opened at $54.04 on Wednesday. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm’s fifty day moving average price is $59.53 and its 200-day moving average price is $58.97. The stock has a market cap of $68.00 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.66 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. On average, equities research analysts expect that CVS Health Co. will post 5.63 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.