Octavia Wealth Advisors LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Octavia Wealth Advisors LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,199 shares of the pharmacy operator’s stock after selling 443 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in CVS Health were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVS. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at about $29,000. McIlrath & Eck LLC lifted its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc grew its stake in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. increased its holdings in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVS shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Royal Bank of Canada lifted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Wolfe Research increased their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird lifted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Price Performance

NYSE CVS opened at $63.61 on Monday. The company has a 50-day moving average price of $65.21 and a two-hundred day moving average price of $59.94. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market cap of $80.47 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. 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 dividend payout ratio is currently 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.