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

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

Other large investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its position in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors boosted its position in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors boosted its position in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC boosted its position in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System boosted its position in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of a number of research reports. 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 report on Tuesday, October 8th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Trading Up 0.4 %

CVS stock opened at $54.27 on Thursday. The company has a market capitalization of $68.29 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company’s 50 day moving average price is $59.47 and its two-hundred day moving average price is $58.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for 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 business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. As a group, analysts predict that CVS Health Co. will post 5.44 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 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.