Avantax Planning Partners Inc. Has $572,000 Holdings in CVS Health Co. (NYSE:CVS)

Avantax Planning Partners Inc. cut its stake in shares of CVS Health Co. (NYSE:CVSFree Report) by 44.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,192 shares of the pharmacy operator’s stock after selling 6,484 shares during the quarter. Avantax Planning Partners Inc.’s holdings in CVS Health were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Live Oak Investment Partners acquired a new position in CVS Health during the fourth quarter valued at approximately $25,000. PCA Investment Advisory Services Inc. acquired a new position in CVS Health during the second quarter valued at approximately $37,000. Northwest Capital Management Inc bought a new stake in shares of CVS Health during the second quarter worth $44,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of CVS Health during the second quarter worth $48,000. Finally, True Wealth Design LLC bought a new stake in shares of CVS Health during the fourth quarter worth $48,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward J. Ludwig purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $70.47 per share, with a total value of $140,940.00. Following the completion of the purchase, the director now directly owns 20,630 shares in the company, valued at $1,453,796.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

CVS Health Stock Performance

CVS traded up $1.02 on Friday, hitting $73.01. The company’s stock had a trading volume of 11,688,808 shares, compared to its average volume of 15,177,761. The company’s 50 day simple moving average is $74.79 and its 200-day simple moving average is $71.91. The firm has a market cap of $93.95 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $90.62. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVSGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. The firm had revenue of $89.76 billion during the quarter, compared to analyst estimates of $88.29 billion. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 EPS. Analysts forecast that CVS Health Co. will post 8.61 EPS for the current year.

CVS Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Friday, January 19th. This is a positive change from CVS Health’s previous quarterly dividend of $0.61. This represents a $2.66 annualized dividend and a yield of 3.64%. CVS Health’s payout ratio is 40.12%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVS shares. TheStreet raised shares of CVS Health from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Tuesday, November 21st. HSBC started coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Finally, Sanford C. Bernstein reduced their price objective on shares of CVS Health from $93.00 to $80.00 in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Get Our Latest Report on CVS Health

About CVS Health

(Free Report)

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Further Reading

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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