CVS Health Corporation (NYSE:CVS) Stock Position Reduced by Alps Advisors Inc.

Alps Advisors Inc. trimmed its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 367,819 shares of the pharmacy operator's stock after selling 122,881 shares during the quarter. Alps Advisors Inc.'s holdings in CVS Health were worth $24,920,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its position in CVS Health by 18.5% during the first quarter. Allworth Financial LP now owns 25,825 shares of the pharmacy operator's stock worth $1,702,000 after purchasing an additional 4,030 shares in the last quarter. tru Independence LLC boosted its position in CVS Health by 3.6% during the first quarter. tru Independence LLC now owns 70,742 shares of the pharmacy operator's stock worth $4,793,000 after purchasing an additional 2,437 shares in the last quarter. Poinciana Advisors Group LLC purchased a new stake in CVS Health during the first quarter worth $226,000. Forza Wealth Management LLC boosted its position in CVS Health by 2.6% during the first quarter. Forza Wealth Management LLC now owns 8,524 shares of the pharmacy operator's stock worth $578,000 after purchasing an additional 215 shares in the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in CVS Health during the first quarter worth $526,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.4%

NYSE:CVS traded down $0.89 on Friday, hitting $64.73. 7,020,831 shares of the stock were exchanged, compared to its average volume of 10,796,063. The stock has a market cap of $81.88 billion, a PE ratio of 15.45, a PEG ratio of 0.94 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $65.05 and a 200-day moving average of $62.22. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Mizuho upped their target price on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank Of Canada upped their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

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.