Summit Financial Wealth Advisors LLC Has $1.27 Million Holdings in CVS Health Co. (NYSE:CVS)

Summit Financial Wealth Advisors LLC lifted its position in CVS Health Co. (NYSE:CVS) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,293 shares of the pharmacy operator’s stock after purchasing an additional 570 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in CVS Health were worth $1,265,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVS. Cantor Fitzgerald Investment Advisor L.P raised its stake in CVS Health by 92.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after acquiring an additional 181,966 shares in the last quarter. United Bank lifted its position in CVS Health by 7.2% during the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock valued at $1,888,000 after purchasing an additional 1,260 shares during the period. Loomis Sayles & Co. L P lifted its position in CVS Health by 4,063.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after purchasing an additional 11,785 shares during the period. Zions Bancorporation N.A. lifted its position in CVS Health by 116.9% during the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after purchasing an additional 1,386 shares during the period. Finally, Ergoteles LLC acquired a new position in CVS Health during the 1st quarter valued at about $1,551,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 25,759 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the completion of the transaction, the senior vice president now directly owns 4,698 shares of the company’s stock, valued at approximately $351,974.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

CVS Health Stock Up 1.5 %

NYSE CVS traded up $1.09 during trading hours on Tuesday, reaching $71.79. 1,836,438 shares of the company’s stock were exchanged, compared to its average volume of 9,108,169. The company’s 50-day moving average is $70.83 and its two-hundred day moving average is $71.77. CVS Health Co. has a one year low of $64.62 and a one year high of $104.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market capitalization of $92.21 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.34 and a beta of 0.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.09. The company had revenue of $88.92 billion during the quarter, compared to analysts’ expectations of $86.41 billion. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. On average, analysts forecast that CVS Health Co. will post 8.61 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were paid a dividend of $0.605 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.37%. CVS Health’s dividend payout ratio is currently 106.14%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVS. Mizuho cut their target price on shares of CVS Health from $120.00 to $88.00 in a research report on Tuesday, July 11th. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Thursday, September 14th. Morgan Stanley cut their target price on shares of CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. JPMorgan Chase & Co. lowered their price target on CVS Health from $114.00 to $106.00 in a research note on Friday, July 7th. Finally, Barclays lowered their price target on CVS Health from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $95.28.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.