Tyler Stone Wealth Management Sells 2,757 Shares of CVS Health Corporation (NYSE:CVS)

Tyler Stone Wealth Management decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 28.5% in the 1st quarter, Holdings Channel reports. The fund owned 6,917 shares of the pharmacy operator’s stock after selling 2,757 shares during the quarter. Tyler Stone Wealth Management’s holdings in CVS Health were worth $469,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. grew its stake in shares of CVS Health by 18.3% during the 1st quarter. Raymond James Financial Inc. now owns 3,057,709 shares of the pharmacy operator’s stock worth $207,160,000 after acquiring an additional 472,880 shares during the period. Brandywine Global Investment Management LLC grew its stake in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after acquiring an additional 572,533 shares during the period. Leigh Baldwin & CO. LLC grew its stake in shares of CVS Health by 4.9% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 6,548 shares of the pharmacy operator’s stock worth $444,000 after acquiring an additional 308 shares during the period. Aberdeen Group plc grew its stake in shares of CVS Health by 52.4% during the 1st quarter. Aberdeen Group plc now owns 1,143,478 shares of the pharmacy operator’s stock worth $77,288,000 after acquiring an additional 393,367 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of CVS Health by 43.1% during the 1st quarter. Horizon Investments LLC now owns 51,846 shares of the pharmacy operator’s stock worth $3,477,000 after acquiring an additional 15,619 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $68.56 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock has a market cap of $86.96 billion, a P/E ratio of 19.15, a PEG ratio of 0.76 and a beta of 0.58. The business’s 50-day moving average price is $64.96 and its two-hundred day moving average price is $64.67. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.9%. CVS Health’s dividend payout ratio is 74.30%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CVS. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $82.00 in a research note on Thursday. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Truist Financial increased their price objective on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $75.68.

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.