ARS Wealth Advisors Group LLC Sells 807 Shares of CVS Health Co. (NYSE:CVS)

ARS Wealth Advisors Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,590 shares of the pharmacy operator’s stock after selling 807 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in CVS Health were worth $514,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVS. Norges Bank bought a new position in shares of CVS Health in the fourth quarter valued at approximately $839,574,000. Capital World Investors boosted its position in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Davis Selected Advisers boosted its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after acquiring an additional 11,018,438 shares during the period. Dodge & Cox lifted its position in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays set a $79.00 target price on shares of CVS Health and gave the company an “overweight” rating in a research report on Monday, June 2nd. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. UBS Group lifted their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Piper Sandler lifted their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Stock Up 0.8%

Shares of NYSE CVS opened at $63.61 on Friday. The firm’s fifty day moving average is $65.21 and its 200 day moving average is $59.92. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $80.47 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

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.