CVS Health Corporation (NYSE:CVS) Holdings Reduced by Concord Wealth Partners

Concord Wealth Partners reduced its stake in CVS Health Corporation (NYSE:CVS) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 926 shares of the pharmacy operator’s stock after selling 295 shares during the period. Concord Wealth Partners’ holdings in CVS Health were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Graypoint LLC lifted its holdings in shares of CVS Health by 92.8% during the 1st quarter. Graypoint LLC now owns 9,998 shares of the pharmacy operator’s stock worth $677,000 after acquiring an additional 4,811 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of CVS Health during the 1st quarter worth approximately $283,000. Windsor Capital Management LLC acquired a new stake in shares of CVS Health during the 1st quarter worth approximately $206,000. Allen Capital Group LLC acquired a new stake in shares of CVS Health during the 1st quarter worth approximately $369,000. Finally, Trust Investment Advisors acquired a new stake in shares of CVS Health during the 1st quarter worth approximately $211,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVS. Barclays set a $79.00 price target on shares of CVS Health and gave the company an “overweight” rating in a research note on Monday, June 2nd. Truist Financial boosted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Wells Fargo & Company reissued an “overweight” rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Robert W. Baird increased 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. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $75.06.

CVS Health Trading Down 0.7%

CVS Health stock opened at $63.34 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a market cap of $80.13 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57. The firm’s 50 day moving average price is $64.80 and its two-hundred day moving average price is $62.76.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The firm 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%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. On average, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.20%. CVS Health’s dividend payout ratio is currently 63.48%.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed 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.