Avantax Advisory Services Inc. Sells 19,995 Shares of CVS Health Co. (NYSE:CVS)

Avantax Advisory Services Inc. cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,293 shares of the pharmacy operator's stock after selling 19,995 shares during the period. Avantax Advisory Services Inc.'s holdings in CVS Health were worth $10,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC grew its stake in shares of CVS Health by 74.0% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator's stock worth $3,017,000 after acquiring an additional 18,385 shares in the last quarter. Sonora Investment Management Group LLC lifted its position in CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator's stock worth $3,525,000 after buying an additional 774 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator's stock worth $726,000 after buying an additional 233 shares during the last quarter. Personal CFO Solutions LLC increased its position in shares of CVS Health by 2.6% in the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator's stock valued at $1,351,000 after acquiring an additional 491 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their price target on CVS Health from $86.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, February 8th. TD Cowen downgraded shares of CVS Health from a "buy" rating to a "hold" rating and decreased their price objective for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. Truist Financial reiterated a "buy" rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Mizuho dropped their price objective on CVS Health from $86.00 to $72.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group reduced their target price on CVS Health from $85.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.75.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm's stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

CVS Health Price Performance

CVS Health stock traded up $0.67 during mid-day trading on Monday, reaching $56.49. 11,765,709 shares of the company were exchanged, compared to its average volume of 11,845,655. The firm has a market cap of $70.92 billion, a PE ratio of 9.95, a PEG ratio of 0.88 and a beta of 0.56. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a fifty day simple moving average of $70.81 and a 200-day simple moving average of $72.81.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the company posted $2.20 EPS. The business's revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. CVS Health's payout ratio is presently 46.75%.

About CVS Health

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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