Axxcess Wealth Management LLC Purchases 1,215 Shares of CVS Health Co. (NYSE:CVS)

Axxcess Wealth Management LLC boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,767 shares of the pharmacy operator’s stock after purchasing an additional 1,215 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CVS Health were worth $1,719,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CVS. FMR LLC boosted its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. International Assets Investment Management LLC boosted its position in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board boosted its position in CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares during the period. Pacer Advisors Inc. boosted its position in CVS Health by 12.6% during the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after purchasing an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $34,379,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $56.28 on Monday. 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 stock has a fifty day moving average price of $72.77 and a two-hundred day moving average price of $73.29. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The firm has a market capitalization of $70.65 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, analysts anticipate that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.73%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is presently 46.75%.

Insider Transactions at CVS Health

In related 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 value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research report on Thursday. The Goldman Sachs Group reduced their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America reduced their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and cut their target price for the company from $87.00 to $58.00 in a research note on Wednesday, May 1st. Finally, Mizuho cut their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.35.

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.