RFG Advisory LLC Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

RFG Advisory LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,984 shares of the pharmacy operator’s stock after selling 273 shares during the period. RFG Advisory LLC’s holdings in CVS Health were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Asset Advisory Services LLC purchased a new stake in shares of CVS Health in the first quarter valued at $214,000. McLean Asset Management Corp purchased a new stake in CVS Health during the first quarter valued at about $347,000. InvesTrust grew its position in CVS Health by 6.0% during the first quarter. InvesTrust now owns 43,269 shares of the pharmacy operator’s stock valued at $2,931,000 after acquiring an additional 2,454 shares during the period. Fulton Bank N.A. grew its position in CVS Health by 13.9% during the first quarter. Fulton Bank N.A. now owns 37,803 shares of the pharmacy operator’s stock valued at $2,561,000 after acquiring an additional 4,613 shares during the period. Finally, HBW Advisory Services LLC purchased a new stake in CVS Health during the first quarter valued at about $221,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVS. Truist Financial boosted their price target on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Argus set a $77.00 price objective on CVS Health in a research note on Tuesday, February 18th. Robert W. Baird boosted their price objective on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Barclays set a $79.00 price objective on CVS Health and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.75.

CVS Health Trading Up 0.8%

Shares of NYSE CVS opened at $63.61 on Friday. The stock’s 50 day moving average price is $65.21 and its two-hundred day moving average price is $59.90. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The stock has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. CVS Health’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is currently 63.48%.

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.