Atria Wealth Solutions Inc. Trims Holdings in CVS Health Co. (NYSE:CVS)

Atria Wealth Solutions Inc. cut its holdings in CVS Health Co. (NYSE:CVS) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 71,355 shares of the pharmacy operator’s stock after selling 2,960 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in CVS Health were worth $5,634,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atticus Wealth Management LLC increased its stake in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC increased its stake in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners increased its stake in CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in CVS Health during the 4th quarter valued at about $50,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 0.2 %

CVS Health stock opened at $67.18 on Friday. The stock has a market cap of $84.68 billion, a P/E ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The firm’s 50 day moving average price is $74.42 and its 200-day moving average price is $73.64.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink initiated coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Finally, Barclays initiated coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

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.