CVS Health Co. (NYSE:CVS) Holdings Decreased by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its position in CVS Health Co. (NYSE:CVS) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,828 shares of the pharmacy operator’s stock after selling 1,247 shares during the period. CVS Health makes up approximately 2.0% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 6th largest holding. Alpha Omega Wealth Management LLC’s holdings in CVS Health were worth $10,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Tower Research Capital LLC TRC raised its stake in shares of CVS Health by 75.2% during the third quarter. Tower Research Capital LLC TRC now owns 50,634 shares of the pharmacy operator’s stock valued at $3,535,000 after purchasing an additional 21,726 shares during the period. Bank of Nova Scotia raised its holdings in CVS Health by 120.3% in the third quarter. Bank of Nova Scotia now owns 247,889 shares of the pharmacy operator’s stock valued at $17,308,000 after acquiring an additional 135,375 shares in the last quarter. Cape Cod Five Cents Savings Bank bought a new position in CVS Health during the 3rd quarter valued at $223,000. Teza Capital Management LLC acquired a new position in CVS Health in the third quarter worth about $2,825,000. Finally, Rehmann Capital Advisory Group grew its position in shares of CVS Health by 5.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 21,731 shares of the pharmacy operator’s stock worth $1,517,000 after acquiring an additional 1,116 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 1.2 %

CVS Health stock opened at $59.06 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.81 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 company’s fifty day simple moving average is $59.56 and its 200-day simple moving average is $70.17. The stock has a market cap of $74.14 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.56 and a beta of 0.53.

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 firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 7.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Truist Financial reissued a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Finally, Bank of America decreased their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $75.05.

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.