Capital Investment Advisors LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Capital Investment Advisors LLC trimmed its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 78.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,466 shares of the pharmacy operator's stock after selling 321,142 shares during the quarter. Capital Investment Advisors LLC's holdings in CVS Health were worth $5,994,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at $29,000. McIlrath & Eck LLC grew its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the last quarter. Financial Perspectives Inc raised its position in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. increased its position in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVS. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Argus set a $77.00 price objective on CVS Health in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Trading Up 0.8%

NYSE CVS opened at $63.61 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $65.21 and a 200 day simple moving average of $59.92. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health's revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, 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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 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.

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