CVS Health Co. (NYSE:CVS) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,076 shares of the pharmacy operator’s stock after selling 4,470 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in CVS Health were worth $1,186,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas lifted its holdings in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health during the fourth quarter worth $34,000. Steph & Co. raised its holdings in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in CVS Health during the fourth quarter worth $36,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 3.2 %

NYSE:CVS traded down $1.87 during mid-day trading on Wednesday, hitting $56.47. The company had a trading volume of 14,952,614 shares, compared to its average volume of 11,567,047. The firm has a market capitalization of $70.89 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.57 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The business has a fifty day simple moving average of $59.41 and a 200-day simple moving average of $66.50.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. The Goldman Sachs Group reduced their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Mizuho dropped their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.55.

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.