VCI Wealth Management LLC Sells 15,326 Shares of CVS Health Corporation (NYSE:CVS)

VCI Wealth Management LLC lowered its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 49.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,559 shares of the pharmacy operator's stock after selling 15,326 shares during the quarter. VCI Wealth Management LLC's holdings in CVS Health were worth $1,054,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVS. McIlrath & Eck LLC increased its position in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in CVS Health during the fourth quarter worth about $43,000. GW&K Investment Management LLC raised its position in shares of CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares during the period. PARK CIRCLE Co increased its holdings in shares of CVS Health by 42.9% in the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after buying an additional 300 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its stake in shares of CVS Health by 77.2% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 446 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVS. Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Jefferies Financial Group increased their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Truist Financial boosted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.82.

CVS Health Trading Up 0.3%

CVS traded up $0.19 during trading on Tuesday, reaching $61.17. 2,566,589 shares of the stock traded hands, compared to its average volume of 10,727,975. The stock has a market capitalization of $77.38 billion, a PE ratio of 14.60, a P/E/G ratio of 0.89 and a beta of 0.57. The stock's 50-day moving average is $64.70 and its 200 day moving average is $63.13. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51.

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, topping the consensus estimate of $1.62 by $0.63. The company 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%. CVS Health's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 4.35%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.

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