Alps Advisors Inc. Sells 122,881 Shares of CVS Health Corporation (NYSE:CVS)

Alps Advisors Inc. decreased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CVS. Allworth Financial LP boosted its holdings in CVS Health by 18.5% during the 1st quarter. Allworth Financial LP now owns 25,825 shares of the pharmacy operator's stock worth $1,702,000 after acquiring an additional 4,030 shares during the last quarter. tru Independence LLC raised its stake in shares of CVS Health by 3.6% in the first quarter. tru Independence LLC now owns 70,742 shares of the pharmacy operator's stock valued at $4,793,000 after buying an additional 2,437 shares during the period. Poinciana Advisors Group LLC purchased a new stake in CVS Health during the first quarter valued at about $226,000. Forza Wealth Management LLC boosted its holdings in CVS Health by 2.6% in the 1st quarter. Forza Wealth Management LLC now owns 8,524 shares of the pharmacy operator's stock worth $578,000 after buying an additional 215 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new position in shares of CVS Health in the first quarter valued at $526,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 1.4%

CVS Health stock traded down $0.89 during mid-day trading on Friday, reaching $64.73. The stock had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The company has a market capitalization of $81.88 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a 50-day moving average price of $65.05 and a two-hundred day moving average price of $62.47.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations 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 was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. On average, analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Tuesday, July 22nd. CVS Health's payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group upped their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Robert W. Baird lifted their price objective on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Two 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 stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $75.06.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

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.