TCI Wealth Advisors Inc. Acquires 411 Shares of CVS Health Co. (NYSE:CVS)

TCI Wealth Advisors Inc. lifted its holdings in CVS Health Co. (NYSE:CVS) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,880 shares of the pharmacy operator’s stock after purchasing an additional 411 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in CVS Health were worth $1,333,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVS. Stratos Wealth Advisors LLC grew its stake in CVS Health by 82.5% in the third quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator’s stock valued at $462,000 after purchasing an additional 2,990 shares in the last quarter. Cutler Investment Counsel LLC increased its holdings in CVS Health by 63.4% during the third quarter. Cutler Investment Counsel LLC now owns 153,831 shares of the pharmacy operator’s stock worth $10,740,000 after buying an additional 59,712 shares during the last quarter. Concord Wealth Partners lifted its stake in CVS Health by 3.4% in the third quarter. Concord Wealth Partners now owns 5,229 shares of the pharmacy operator’s stock valued at $365,000 after acquiring an additional 170 shares during the last quarter. Everhart Financial Group Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $253,000. Finally, Lindbrook Capital LLC lifted its stake in CVS Health by 7.2% in the 3rd quarter. Lindbrook Capital LLC now owns 6,662 shares of the pharmacy operator’s stock valued at $465,000 after purchasing an additional 445 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $60.00 in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Barclays reduced their price objective on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.35.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.75 during trading hours on Friday, hitting $55.90. 23,946,075 shares of the stock were exchanged, compared to its average volume of 12,498,538. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25. The company has a market cap of $70.18 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The company’s fifty day simple moving average is $72.77 and its two-hundred day simple moving average is $73.29.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. CVS Health’s payout ratio is presently 46.75%.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.