Wealth Advisors of Tampa Bay LLC Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Wealth Advisors of Tampa Bay LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 25,316 shares of the pharmacy operator’s stock after selling 920 shares during the quarter. Wealth Advisors of Tampa Bay LLC’s holdings in CVS Health were worth $1,495,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of CVS. Gryphon Financial Partners LLC raised its holdings in shares of CVS Health by 48.3% during the fourth 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 during the last quarter. CreativeOne Wealth LLC grew its holdings in CVS Health by 34.0% during the fourth quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock worth $610,000 after acquiring an additional 1,961 shares during the period. Financial Advisors Network Inc. purchased a new stake in CVS Health in the 4th quarter worth approximately $218,000. Allstate Corp grew its stake in shares of CVS Health by 13.3% during the 4th quarter. Allstate Corp now owns 4,207 shares of the pharmacy operator’s stock worth $332,000 after purchasing an additional 493 shares during the period. Finally, BCU Wealth Advisors LLC purchased a new position in shares of CVS Health during the 4th quarter valued at approximately $598,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock opened at $58.40 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The business’s 50 day moving average price is $58.34 and its 200 day moving average price is $62.71. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 earnings per share. On average, research analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on CVS shares. JPMorgan Chase & Co. dropped their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

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.