Avantax Advisory Services Inc. Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Avantax Advisory Services Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 46.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,091 shares of the pharmacy operator’s stock after selling 64,202 shares during the period. Avantax Advisory Services Inc.’s holdings in CVS Health were worth $5,910,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pure Financial Advisors LLC purchased a new position in CVS Health during the 4th quarter valued at about $202,000. Wedmont Private Capital increased its holdings in CVS Health by 17.1% during the 4th quarter. Wedmont Private Capital now owns 19,079 shares of the pharmacy operator’s stock valued at $1,539,000 after purchasing an additional 2,791 shares during the period. Key Client Fiduciary Advisors LLC increased its holdings in CVS Health by 5.1% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 6,506 shares of the pharmacy operator’s stock valued at $514,000 after purchasing an additional 314 shares during the period. Dfpg Investments LLC increased its holdings in CVS Health by 74.0% during the 4th quarter. Dfpg Investments LLC now owns 30,201 shares of the pharmacy operator’s stock valued at $2,443,000 after purchasing an additional 12,848 shares during the period. Finally, Silvia Mccoll Wealth Management LLC purchased a new position in CVS Health during the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Wells Fargo & Company cut their price objective on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. Bank of America cut their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Mizuho cut their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Stock Performance

CVS traded up $1.86 during mid-day trading on Wednesday, reaching $61.92. 7,185,479 shares of the company traded hands, compared to its average volume of 11,707,214. The stock has a market capitalization of $77.73 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.56 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. The company’s fifty day moving average price is $58.35 and its 200-day moving average price is $68.47. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $2.20 earnings per share. On average, sell-side analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.30%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost 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 approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

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.