Aprio Wealth Management LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Aprio Wealth Management LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 8.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,619 shares of the pharmacy operator’s stock after selling 325 shares during the quarter. Aprio Wealth Management LLC’s holdings in CVS Health were worth $289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares in the last quarter. Capital World Investors boosted its stake in shares of CVS Health by 0.3% during the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock valued at $3,201,410,000 after purchasing an additional 119,631 shares in the last quarter. Capital International Investors boosted its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares in the last quarter. Northern Trust Corp boosted its stake in CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock valued at $992,442,000 after acquiring an additional 305,564 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in CVS Health by 2.2% in the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock valued at $987,041,000 after acquiring an additional 303,512 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS opened at $61.44 on Friday. The firm has a market capitalization of $77.13 billion, a PE ratio of 10.80, a PEG ratio of 0.58 and a beta of 0.53. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm’s 50-day moving average price is $60.47 and its 200 day moving average price is $70.66. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVS. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

About CVS Health

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.