Financial Advisors Network Inc. Has $222,000 Holdings in CVS Health Corporation $CVS

Financial Advisors Network Inc. trimmed its position in shares of CVS Health Corporation (NYSE:CVS) by 30.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,276 shares of the pharmacy operator’s stock after selling 1,411 shares during the period. Financial Advisors Network Inc.’s holdings in CVS Health were worth $222,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. RWA Wealth Partners LLC grew its stake in CVS Health by 5.2% during the first quarter. RWA Wealth Partners LLC now owns 55,104 shares of the pharmacy operator’s stock worth $3,733,000 after buying an additional 2,744 shares in the last quarter. Wellington Management Group LLP grew its stake in CVS Health by 83.2% during the first quarter. Wellington Management Group LLP now owns 403,365 shares of the pharmacy operator’s stock worth $27,328,000 after buying an additional 183,232 shares in the last quarter. Edgar Lomax Co. VA grew its stake in CVS Health by 38.3% during the first quarter. Edgar Lomax Co. VA now owns 1,226,235 shares of the pharmacy operator’s stock worth $83,077,000 after buying an additional 339,405 shares in the last quarter. Korea Investment CORP grew its stake in CVS Health by 50.8% during the first quarter. Korea Investment CORP now owns 986,347 shares of the pharmacy operator’s stock worth $66,825,000 after buying an additional 332,144 shares in the last quarter. Finally, Alpha Family Trust acquired a new stake in CVS Health during the first quarter worth about $215,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVS. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $67.00 to $79.00 in a report on Monday. Finally, Bernstein Bank dropped their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.32.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

NYSE:CVS opened at $70.12 on Tuesday. The company has a market capitalization of $88.94 billion, a PE ratio of 19.59, a P/E/G ratio of 0.76 and a beta of 0.58. The company has a 50 day simple moving average of $65.09 and a two-hundred day simple moving average of $64.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. Research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.8%. CVS Health’s dividend payout ratio (DPR) is 74.30%.

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.