Western Wealth Management LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Western Wealth Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 64.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,207 shares of the pharmacy operator’s stock after selling 11,134 shares during the period. Western Wealth Management LLC’s holdings in CVS Health were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CVS. International Assets Investment Management LLC raised its stake in CVS Health by 11.4% in the fourth quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock valued at $1,322,000 after buying an additional 1,715 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in CVS Health in the 4th quarter worth approximately $50,000. Beaumont Financial Advisors LLC purchased a new stake in CVS Health during the 4th quarter worth approximately $219,000. J.W. Cole Advisors Inc. increased its stake in CVS Health by 3.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 18,267 shares of the pharmacy operator’s stock valued at $1,442,000 after purchasing an additional 546 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in shares of CVS Health by 43.5% in the fourth quarter. DT Investment Partners LLC now owns 2,575 shares of the pharmacy operator’s stock worth $190,000 after buying an additional 781 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

NYSE CVS traded up $0.76 on Monday, hitting $59.11. The company had a trading volume of 1,380,272 shares, compared to its average volume of 11,368,822. 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 has a market capitalization of $74.21 billion, a PE ratio of 10.25, a PEG ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company’s fifty day moving average price is $59.04 and its 200-day moving average price is $65.55.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVS. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. JPMorgan Chase & Co. reduced their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Evercore ISI dropped their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Argus lowered their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.24.

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.