WFA Asset Management Corp Has $156,000 Stock Position in CVS Health Co. (NYSE:CVS)

WFA Asset Management Corp lifted its stake in CVS Health Co. (NYSE:CVS) by 27.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,950 shares of the pharmacy operator’s stock after purchasing an additional 415 shares during the quarter. WFA Asset Management Corp’s holdings in CVS Health were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. SOA Wealth Advisors LLC. raised its position in CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after acquiring an additional 133 shares in the last quarter. Apella Capital LLC raised its position in CVS Health by 4.2% during 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 raised its position in CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC raised its position in CVS Health by 3.2% during the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after acquiring an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in CVS Health by 9.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after acquiring an additional 142 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. Barclays lowered their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price target on shares of CVS Health in a report on Wednesday, June 12th. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Mizuho lowered their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Truist Financial restated a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $75.05.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.76 during midday trading on Wednesday, reaching $56.76. 3,285,237 shares of the company traded hands, compared to its average volume of 11,962,166. The firm has a market cap of $71.25 billion, a PE ratio of 10.07, a PEG ratio of 0.56 and a beta of 0.52. The stock’s 50-day simple moving average is $59.12 and its 200-day simple moving average is $69.90. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

About CVS Health

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.