Atria Wealth Solutions Inc. Has $3.12 Million Stake in CVS Health Co. (NYSE:CVS)

Atria Wealth Solutions Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,736 shares of the pharmacy operator’s stock after selling 13,442 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in CVS Health were worth $3,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. USA Financial Formulas boosted its position in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health during the 4th quarter valued at $34,000. Steph & Co. raised its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in CVS Health in the fourth quarter worth $36,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVS. Truist Financial reiterated a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Monday. TD Cowen cut CVS Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Robert W. Baird assumed coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Finally, Mizuho cut their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.24.

CVS Health Stock Down 1.0 %

CVS stock traded down $0.59 during trading hours on Wednesday, reaching $58.31. 4,730,024 shares of the stock were exchanged, compared to its average volume of 11,320,745. 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 market cap of $73.20 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm’s 50-day moving average is $58.96 and its 200-day moving average is $65.29.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.