Kingswood Wealth Advisors LLC Sells 10,682 Shares of CVS Health Co. (NYSE:CVS)

Kingswood Wealth Advisors LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,361 shares of the pharmacy operator's stock after selling 10,682 shares during the period. Kingswood Wealth Advisors LLC's holdings in CVS Health were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Sound Income Strategies LLC raised its position in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator's stock worth $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator's stock worth $331,000 after purchasing an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator's stock worth $106,000 after purchasing an additional 195 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator's stock valued at $1,737,000 after acquiring an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. raised its holdings in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock valued at $724,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CVS. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Evercore ISI increased their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday. Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $68.12.

CVS Health Stock Down 0.0 %

CVS stock traded down $0.02 during midday trading on Wednesday, hitting $57.31. The company's stock had a trading volume of 7,445,996 shares, compared to its average volume of 13,412,048. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a 50-day simple moving average of $51.27 and a 200-day simple moving average of $56.18. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $72.12 billion, a P/E ratio of 14.53, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.64%. CVS Health's dividend payout ratio (DPR) is 67.51%.

CVS Health Company 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.