Smith Salley Wealth Management Sells 8,127 Shares of CVS Health Corporation (NYSE:CVS)

Smith Salley Wealth Management lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 48.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,727 shares of the pharmacy operator's stock after selling 8,127 shares during the period. Smith Salley Wealth Management's holdings in CVS Health were worth $591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Essex Financial Services Inc. grew its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after buying an additional 178 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock worth $177,000 after buying an additional 180 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after acquiring an additional 189 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE:CVS traded down $2.96 during trading hours on Wednesday, hitting $66.62. 10,816,468 shares of the company traded hands, compared to its average volume of 10,824,545. 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 market capitalization of $84.28 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 0.99 and a beta of 0.57. The firm has a 50-day moving average of $65.01 and a 200 day moving average of $61.13. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 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 net margin of 1.39% and a return on equity of 10.59%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

Insider Activity

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVS. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group increased their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Mizuho increased their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently 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.