Empower Advisory Group LLC Sells 953,562 Shares of CVS Health Co. (NYSE:CVS)

Empower Advisory Group LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 98.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,516 shares of the pharmacy operator’s stock after selling 953,562 shares during the quarter. Empower Advisory Group LLC’s holdings in CVS Health were worth $876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter valued at $32,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 0.5 %

Shares of NYSE:CVS opened at $65.47 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a 50-day moving average price of $51.30 and a 200 day moving average price of $56.03. The company has a market cap of $82.39 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities research analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

About CVS Health

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.