Kingsview Wealth Management LLC Decreases Stock Holdings in CVS Health Corporation (NYSE:CVS)

Kingsview Wealth Management LLC reduced its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 85.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,301 shares of the pharmacy operator's stock after selling 157,333 shares during the quarter. Kingsview Wealth Management LLC's holdings in CVS Health were worth $1,850,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVS. Whitebox Advisors LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $249,000. Cerity Partners LLC lifted its stake in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after purchasing an additional 183,813 shares in the last quarter. Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health in the 4th quarter worth approximately $121,742,000. Finally, Lazard Asset Management LLC lifted its stake in CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after purchasing an additional 293,406 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Robert W. Baird increased their price target on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. UBS Group increased their price target 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. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

CVS Health Stock Down 2.1%

NYSE CVS traded down $1.36 during trading hours on Friday, reaching $61.94. 8,610,279 shares of the company's stock traded hands, compared to its average volume of 10,775,122. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a market cap of $78.36 billion, a PE ratio of 14.78, a PEG ratio of 0.89 and a beta of 0.57. The firm has a 50-day simple moving average of $64.70 and a 200 day simple moving average of $63.00. 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 (NYSE:CVS - Get Free Report) last issued its quarterly 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. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same period last year, the company posted $1.31 EPS. CVS Health's revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.29%. CVS Health's dividend payout ratio is currently 63.48%.

Insiders Place Their Bets

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company's stock.

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.