Axxcess Wealth Management LLC Sells 4,511 Shares of CVS Health Co. (NYSE:CVS)

Axxcess Wealth Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 31.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,662 shares of the pharmacy operator’s stock after selling 4,511 shares during the period. Axxcess Wealth Management LLC’s holdings in CVS Health were worth $608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the 3rd quarter valued at $32,000. First Community Trust NA lifted its stake in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the 3rd quarter valued at $33,000. Finally, ORG Partners LLC lifted its stake in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CVS shares. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company dropped their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Price Performance

CVS stock opened at $54.04 on Wednesday. The stock has a market capitalization of $68.00 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company’s 50-day moving average is $59.53 and its 200-day moving average is $58.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. Equities research analysts expect that CVS Health Co. will post 5.63 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.92%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.