Capital Investment Advisors LLC Cuts Holdings in CVS Health Co. (NYSE:CVS)

Capital Investment Advisors LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 78.4% in the 1st quarter, Holdings Channel reports. The firm owned 88,466 shares of the pharmacy operator’s stock after selling 321,142 shares during the period. Capital Investment Advisors LLC’s holdings in CVS Health were worth $5,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BCS Wealth Management bought a new stake in shares of CVS Health during the 1st quarter valued at $270,000. Park Avenue Securities LLC lifted its position in CVS Health by 5.0% during the first quarter. Park Avenue Securities LLC now owns 25,890 shares of the pharmacy operator’s stock valued at $1,754,000 after purchasing an additional 1,244 shares during the last quarter. OLD National Bancorp IN increased its stake in CVS Health by 20.1% during the first quarter. OLD National Bancorp IN now owns 297,713 shares of the pharmacy operator’s stock worth $20,170,000 after acquiring an additional 49,753 shares during the last quarter. Wynn Capital LLC raised its holdings in CVS Health by 2.8% during the 1st quarter. Wynn Capital LLC now owns 19,470 shares of the pharmacy operator’s stock valued at $1,319,000 after buying an additional 530 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in shares of CVS Health by 17.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 10,474 shares of the pharmacy operator’s stock worth $710,000 after purchasing an additional 1,543 shares during the period. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Finally, Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $74.75.

CVS Health Price Performance

Shares of NYSE CVS opened at $63.61 on Friday. The firm has a market cap of $80.47 billion, a PE ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56. The firm has a fifty day moving average of $65.21 and a 200 day moving average of $59.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. As a group, research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio (DPR) is 63.48%.

CVS Health Company 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.