Alliance Wealth Advisors LLC UT Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Alliance Wealth Advisors LLC UT cut its stake in CVS Health Co. (NYSE:CVS) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,309 shares of the pharmacy operator’s stock after selling 491 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in CVS Health were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CVS. Atticus Wealth Management LLC increased its position in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC increased its stake in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the last quarter. Coston McIsaac & Partners raised its position in CVS Health by 42.6% in the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.15 during mid-day trading on Friday, hitting $67.18. 6,396,438 shares of the company were exchanged, compared to its average volume of 8,376,818. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The stock has a 50 day simple moving average of $74.42 and a 200-day simple moving average of $73.66. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 earnings per share. On average, sell-side analysts forecast that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada lowered their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Barclays assumed coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. SVB Leerink began coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

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.