Arkadios Wealth Advisors Sells 11,165 Shares of CVS Health Co. (NYSE:CVS)

Arkadios Wealth Advisors lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 21.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,765 shares of the pharmacy operator’s stock after selling 11,165 shares during the period. Arkadios Wealth Advisors’ holdings in CVS Health were worth $2,563,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter worth about $31,000. First Community Trust NA lifted its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $33,000. ORG Partners LLC increased its stake in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its position in CVS Health by 71.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 247 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVS shares. Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays reduced their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Stock Performance

Shares of CVS stock opened at $56.49 on Friday. The stock has a market capitalization of $70.92 billion, a PE ratio of 9.93, a PEG ratio of 0.84 and a beta of 0.54. The business’s 50 day simple moving average is $59.82 and its 200 day simple moving average is $59.92. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is 46.75%.

CVS Health 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.