Alliance Wealth Advisors LLC Reduces Holdings in CVS Health Co. (NYSE:CVS)

Alliance Wealth Advisors LLC reduced its position in CVS Health Co. (NYSE:CVS) by 82.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,462 shares of the pharmacy operator’s stock after selling 20,284 shares during the period. Alliance Wealth Advisors LLC’s holdings in CVS Health were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Wedmont Private Capital boosted its stake in shares of CVS Health by 0.8% during the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 146 shares in the last quarter. Garland Capital Management Inc. lifted its holdings in CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Silverlake Wealth Management LLC raised its position in shares of CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after purchasing an additional 173 shares during the period. Finally, Plimoth Trust Co. LLC lifted its stake in shares of CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CVS shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $63.00 to $82.00 in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Stock Performance

NYSE CVS opened at $65.01 on Thursday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $81.61 billion, a P/E ratio of 11.43, a PEG ratio of 0.93 and a beta of 0.54. The company’s 50-day simple moving average is $59.62 and its 200 day simple moving average is $60.73.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

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.