Axxcess Wealth Management LLC Has $837,000 Position in CVS Health Co. (NYSE:CVS)

Axxcess Wealth Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 47.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,173 shares of the pharmacy operator’s stock after selling 12,823 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CVS Health were worth $837,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter valued at $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the 4th quarter worth about $34,000. Steph & Co. grew its holdings 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 in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of CVS Health in the fourth quarter valued at about $36,000. Finally, Scarborough Advisors LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVS. 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 target on the stock. Barclays lowered their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Finally, Evercore ISI decreased their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Trading Down 0.0 %

NYSE CVS opened at $58.40 on Friday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The business’s fifty day moving average is $58.34 and its 200 day moving average is $62.71. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53.

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. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, sell-side analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

CVS Health 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.