Aviance Capital Partners LLC Purchases 710 Shares of CVS Health Co. (NYSE:CVS)

Aviance Capital Partners LLC increased its position in CVS Health Co. (NYSE:CVS) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,669 shares of the pharmacy operator’s stock after purchasing an additional 710 shares during the quarter. Aviance Capital Partners LLC’s holdings in CVS Health were worth $931,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Atticus Wealth Management LLC grew its holdings in 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 acquiring an additional 219 shares during the period. USA Financial Formulas increased its holdings in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the fourth quarter valued at about $32,000. Creekmur Asset Management LLC bought a new position in CVS Health during the fourth quarter worth about $34,000. Finally, Steph & Co. increased its stake in shares of CVS Health by 192.0% in the 1st 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 last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CVS. Bank of America lowered their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. Truist Financial reiterated 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. Finally, Robert W. Baird assumed coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. 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, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Activity

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

CVS Health Stock Performance

Shares of NYSE CVS opened at $58.14 on Tuesday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a 50 day moving average of $59.56 and a 200-day moving average of $70.13. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $72.99 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

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.