Atria Wealth Solutions Inc. Cuts Stake in CVS Health Co. (NYSE:CVS)

Atria Wealth Solutions Inc. lowered its stake in CVS Health Co. (NYSE:CVS) by 20.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,736 shares of the pharmacy operator’s stock after selling 13,442 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in CVS Health were worth $3,115,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC increased its stake in CVS Health by 11.4% during the 4th quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock worth $1,322,000 after buying an additional 1,715 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of CVS Health during the fourth quarter worth about $50,000. CWM LLC lifted its stake in shares of CVS Health by 1.6% in the fourth quarter. CWM LLC now owns 72,073 shares of the pharmacy operator’s stock worth $5,691,000 after acquiring an additional 1,168 shares in the last quarter. Stock Yards Bank & Trust Co. grew its stake in CVS Health by 6.4% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 47,127 shares of the pharmacy operator’s stock valued at $3,721,000 after purchasing an additional 2,841 shares in the last quarter. Finally, Monument Capital Management purchased a new stake in CVS Health during the 4th quarter worth approximately $207,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS traded down $0.59 during mid-day trading on Wednesday, reaching $58.31. 4,730,024 shares of the company’s stock traded hands, compared to its average volume of 11,320,745. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a market capitalization of $73.20 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The business’s 50-day moving average price is $58.96 and its 200-day moving average price is $65.29. 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 announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. Equities analysts predict that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVS shares. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Barclays cut their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Argus cut their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, SVB Leerink reiterated a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.24.

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.