Atria Wealth Solutions Inc. Trims Stake in CVS Health Corporation (NYSE:CVS)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in CVS Health Corporation by 11.1% in the first quarter, owning 55,242 shares valued at $3,743,000 after selling 6,918 shares.
• Institutional investors remain heavily invested, with 80.66% of CVS stock held by hedge funds and other institutional investors, while several funds have increased their holdings in the company.
• CVS Health announced a quarterly dividend of $0.665 per share, with an annualized dividend yield of 4.2% and a payout ratio of 74.30% as of its last filing.

Atria Wealth Solutions Inc. reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 11.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 55,242 shares of the pharmacy operator's stock after selling 6,918 shares during the period. Atria Wealth Solutions Inc.'s holdings in CVS Health were worth $3,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox lifted its holdings in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Capital World Investors lifted its holdings in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the last quarter. Capital International Investors lifted its holdings in shares of CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after purchasing an additional 1,212,126 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in CVS Health by 14.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock valued at $600,019,000 after acquiring an additional 1,660,321 shares during the last quarter. Finally, Northern Trust Corp raised its stake in CVS Health by 8.0% during the 4th quarter. Northern Trust Corp now owns 12,491,956 shares of the pharmacy operator's stock valued at $560,764,000 after acquiring an additional 928,833 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the subject of several analyst reports. Barclays upped their price objective on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Truist Financial upped their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.11.

CVS Health Stock Performance

CVS opened at $63.54 on Friday. The stock has a market cap of $80.58 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.70 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The stock's 50 day simple moving average is $64.65 and its 200 day simple moving average is $64.14. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.2%. CVS Health's dividend payout ratio is currently 74.30%.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by corporate 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.

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