Prime Capital Investment Advisors LLC Sells 14,523 Shares of CVS Health Co. (NYSE:CVS)

Prime Capital Investment Advisors LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 29.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,207 shares of the pharmacy operator’s stock after selling 14,523 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in CVS Health were worth $2,214,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter valued at $31,000. Crewe Advisors LLC bought a new stake in shares of CVS Health in the 1st quarter valued at $40,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at $33,000. Finally, First Community Trust NA boosted its stake 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 purchasing an additional 302 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $54.27 on Thursday. The firm has a 50-day moving average of $59.47 and a 200-day moving average of $58.88. The company has a market cap of $68.29 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. Equities research analysts forecast that CVS Health Co. will post 5.44 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.