Arkadios Wealth Advisors Sells 10,158 Shares of CVS Health Co. (NYSE:CVS)

Arkadios Wealth Advisors lowered its position in shares of CVS Health Co. (NYSE:CVS) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,607 shares of the pharmacy operator’s stock after selling 10,158 shares during the quarter. Arkadios Wealth Advisors’ holdings in CVS Health were worth $1,374,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVS. Intech Investment Management LLC raised its stake in shares of CVS Health by 17.1% during the second quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock worth $3,343,000 after buying an additional 8,261 shares during the last quarter. AE Wealth Management LLC raised its position in shares of CVS Health by 12.3% during the 2nd quarter. AE Wealth Management LLC now owns 56,116 shares of the pharmacy operator’s stock valued at $3,314,000 after acquiring an additional 6,151 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of CVS Health by 33.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 14,282 shares of the pharmacy operator’s stock valued at $843,000 after purchasing an additional 3,564 shares during the period. Legacy Financial Advisors Inc. grew its stake in shares of CVS Health by 201.2% during the second quarter. Legacy Financial Advisors Inc. now owns 9,121 shares of the pharmacy operator’s stock worth $539,000 after purchasing an additional 6,093 shares during the period. Finally, ProShare Advisors LLC increased its holdings in CVS Health by 9.0% in the second quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock valued at $12,396,000 after purchasing an additional 17,281 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several analyst reports. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a report on Monday, November 18th. Truist Financial cut their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group boosted their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 1.5 %

CVS Health stock opened at $52.72 on Monday. The company has a fifty day simple moving average of $51.34 and a 200 day simple moving average of $56.32. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market cap of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. Research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. CVS Health’s payout ratio is 67.51%.

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.