WealthBridge Investment Counsel Inc. Sells 1,700 Shares of CVS Health Co. (NYSE:CVS)

WealthBridge Investment Counsel Inc. lessened its holdings in CVS Health Co. (NYSE:CVS) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,233 shares of the pharmacy operator’s stock after selling 1,700 shares during the period. CVS Health comprises 2.5% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 20th biggest holding. WealthBridge Investment Counsel Inc.’s holdings in CVS Health were worth $6,718,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVS. SOA Wealth Advisors LLC. raised its position in CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares during the last quarter. Apella Capital LLC boosted its holdings in CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC increased its position in CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after purchasing an additional 141 shares during the period. WealthShield Partners LLC raised its holdings in CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVS shares. Argus decreased their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Robert W. Baird started coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Barclays dropped their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Performance

CVS traded down $0.82 during midday trading on Thursday, hitting $56.70. 5,371,350 shares of the company traded hands, compared to its average volume of 10,197,653. The company’s 50-day moving average is $58.89 and its 200 day moving average is $69.81. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a market capitalization of $71.18 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.55 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $2.20 EPS. On average, research analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

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.