SeaCrest Wealth Management LLC Sells 19,851 Shares of CVS Health Co. (NYSE:CVS)

SeaCrest Wealth Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 54.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,776 shares of the pharmacy operator’s stock after selling 19,851 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in CVS Health were worth $991,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVS. USA Financial Formulas grew its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the fourth quarter valued at $32,000. First Community Trust NA grew its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.4 %

CVS Health stock traded up $0.26 during midday trading on Tuesday, hitting $59.06. 2,415,305 shares of the stock were exchanged, compared to its average volume of 11,350,918. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The business’s 50-day moving average price is $59.01 and its 200-day moving average price is $65.44. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.50%. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

Several equities analysts have commented on CVS shares. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price objective for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group dropped their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial reissued a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Finally, SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $73.24.

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.