Summit Financial Wealth Advisors LLC Sells 864 Shares of CVS Health Co. (NYSE:CVS)

Summit Financial Wealth Advisors LLC lessened its stake in CVS Health Co. (NYSE:CVSFree Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,094 shares of the pharmacy operator’s stock after selling 864 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in CVS Health were worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Live Oak Investment Partners bought a new position in CVS Health during the 4th quarter valued at approximately $25,000. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC grew its holdings in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the period. Finally, True Wealth Design LLC purchased a new position in shares of CVS Health during the 4th quarter worth approximately $48,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.4 %

Shares of CVS stock opened at $79.76 on Friday. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a market capitalization of $100.37 billion, a PE ratio of 12.35, a PEG ratio of 1.05 and a beta of 0.51. The stock has a fifty day simple moving average of $75.91 and a two-hundred day simple moving average of $73.58.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the business posted $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.34%. CVS Health’s payout ratio is 41.18%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. HSBC began coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price target on the stock. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. SVB Leerink started coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. TD Cowen lowered their price objective on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research report on Monday, December 11th. Finally, Barclays started coverage on CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.21.

View Our Latest Stock Report on CVS Health

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

About CVS Health

(Free Report)

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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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