Wealthspire Advisors LLC Has $864,000 Holdings in CVS Health Co. (NYSE:CVS)

Wealthspire Advisors LLC reduced its position in CVS Health Co. (NYSE:CVS) by 25.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,633 shares of the pharmacy operator’s stock after selling 5,064 shares during the period. Wealthspire Advisors LLC’s holdings in CVS Health were worth $864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Gryphon Financial Partners LLC increased its holdings in CVS Health by 48.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock worth $654,000 after purchasing an additional 2,653 shares in the last quarter. Norges Bank purchased a new stake in CVS Health in the 4th quarter valued at $1,092,040,000. Dynamic Technology Lab Private Ltd bought a new position in CVS Health during the 4th quarter valued at $1,015,000. Coldstream Capital Management Inc. grew its stake in shares of CVS Health by 8.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 19,567 shares of the pharmacy operator’s stock worth $1,545,000 after acquiring an additional 1,598 shares in the last quarter. Finally, Balentine LLC raised its holdings in shares of CVS Health by 7.3% in the fourth quarter. Balentine LLC now owns 8,430 shares of the pharmacy operator’s stock valued at $666,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $57.98 on Monday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a market cap of $72.79 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a 50 day moving average of $58.28 and a 200 day moving average of $63.00.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.10.

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.