Global Wealth Management Investment Advisory Inc. Sells 49,493 Shares of CVS Health Co. (NYSE:CVS)

Global Wealth Management Investment Advisory Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 98.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 909 shares of the pharmacy operator’s stock after selling 49,493 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in CVS Health were worth $72,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after buying an additional 1,112 shares in the last quarter. Accurate Wealth Management LLC grew its position in shares of CVS Health by 4.9% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,144 shares of the pharmacy operator’s stock worth $226,000 after buying an additional 148 shares during the period. Mission Wealth Management LP grew its position in CVS Health by 4.3% during the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 210 shares during the last quarter. Tectonic Advisors LLC increased its stake in CVS Health by 12.5% during the 3rd quarter. Tectonic Advisors LLC now owns 8,433 shares of the pharmacy operator’s stock valued at $589,000 after purchasing an additional 935 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of CVS Health by 6.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator’s stock valued at $4,600,000 after acquiring an additional 3,874 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVS. Barclays began coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $58.00 in a research report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.50.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was 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 directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Stock Down 16.8 %

Shares of CVS stock opened at $56.32 on Thursday. The stock has a market cap of $70.99 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. CVS Health Co. has a one year low of $54.00 and a one year high of $83.25. The stock has a fifty day moving average price of $73.63 and a 200 day moving average price of $73.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the prior year, the company posted $1.99 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.72%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

CVS Health 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.