Allen Mooney & Barnes Investment Advisors LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Allen Mooney & Barnes Investment Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,163 shares of the pharmacy operator’s stock after selling 686 shares during the period. CVS Health makes up 2.0% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 22nd largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in CVS Health were worth $10,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Atticus Wealth Management LLC boosted its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health during the 4th quarter worth about $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the 4th quarter worth about $34,000. Finally, 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. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Argus dropped their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Robert W. Baird started coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Barclays lowered their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Trading Up 0.6 %

Shares of CVS Health stock opened at $61.74 on Tuesday. 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 Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm has a market capitalization of $77.50 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.59 and a beta of 0.53. The firm’s 50 day simple moving average is $60.33 and its two-hundred day simple moving average is $70.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company 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 company posted $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

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.