Capital Investment Advisory Services LLC Sells 3,021 Shares of CVS Health Co. (NYSE:CVS)

Capital Investment Advisory Services LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 17.5% during the 4th quarter, HoldingsChannel reports. The fund owned 14,216 shares of the pharmacy operator’s stock after selling 3,021 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in CVS Health were worth $638,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CVS. Sound Income Strategies LLC increased its stake in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the period. Bruce G. Allen Investments LLC increased its position in CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 195 shares during the period. Integrated Advisors Network LLC raised its holdings in CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after purchasing an additional 200 shares in the last quarter. Finally, Widmann Financial Services Inc. raised its holdings in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. TD Cowen upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler decreased their price objective on shares of 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 price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Truist Financial reduced their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

Shares of NYSE:CVS opened at $56.84 on Friday. The firm’s 50 day moving average price is $51.28 and its 200-day moving average price is $56.17. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $71.53 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 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.