CVS Health Co. (NYSE:CVS) Holdings Decreased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,002 shares of the pharmacy operator’s stock after selling 4,547 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in CVS Health were worth $3,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the 3rd quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Stock Performance

CVS opened at $49.37 on Monday. CVS Health Co. has a 52-week low of $48.01 and a 52-week high of $83.25. The firm has a market capitalization of $62.13 billion, a PE ratio of 12.53, a PEG ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business’s 50-day simple moving average is $58.34 and its 200 day simple moving average is $58.68.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. As a group, sell-side analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.39%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.