First Horizon Advisors Inc. Sells 1,680 Shares of CVS Health Co. (NYSE:CVS)

First Horizon Advisors Inc. lowered its position in shares of CVS Health Co. (NYSE:CVS – Free Report) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,739 shares of the pharmacy operator’s stock after selling 1,680 shares during the period. First Horizon Advisors Inc.’s holdings in CVS Health were worth $575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Long Run Wealth Advisors LLC increased its stake in shares of CVS Health by 14.9% during the second quarter. Long Run Wealth Advisors LLC now owns 49,921 shares of the pharmacy operator’s stock worth $2,948,000 after purchasing an additional 6,485 shares during the period. MONECO Advisors LLC grew its holdings in shares of CVS Health by 18.8% during the 2nd quarter. MONECO Advisors LLC now owns 18,858 shares of the pharmacy operator’s stock worth $1,114,000 after purchasing an additional 2,979 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of CVS Health by 31.3% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 380,794 shares of the pharmacy operator’s stock worth $22,490,000 after purchasing an additional 90,746 shares during the period. RBA Wealth Management LLC lifted its position in CVS Health by 3.0% during the second quarter. RBA Wealth Management LLC now owns 54,407 shares of the pharmacy operator’s stock worth $3,213,000 after purchasing an additional 1,592 shares during the period. Finally, Williams Financial LLC grew its stake in CVS Health by 6,200.1% during the second quarter. Williams Financial LLC now owns 422,551 shares of the pharmacy operator’s stock worth $26,432,000 after buying an additional 415,844 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Argus cut their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft reduced their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.24.

Check Out Our Latest Report on CVS

CVS Health Price Performance

CVS stock opened at $58.90 on Wednesday. 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’s 50-day moving average is $58.99 and its 200-day moving average is $65.34. The stock has a market capitalization of $73.94 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

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

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

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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