Prime Capital Investment Advisors LLC Cuts Position in CVS Health Corporation $CVS

Prime Capital Investment Advisors LLC lessened its stake in shares of CVS Health Corporation (NYSE:CVS) by 15.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,998 shares of the pharmacy operator’s stock after selling 2,638 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in CVS Health were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bell Investment Advisors Inc lifted its stake in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 248 shares in the last quarter. Roxbury Financial LLC lifted its stake in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares in the last quarter. ORG Partners LLC lifted its stake in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Saudi Central Bank acquired a new position in shares of CVS Health in the first quarter worth about $34,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the second quarter worth about $35,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Mizuho boosted their price target on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research note on Saturday, September 27th. Jefferies Financial Group boosted their price target on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company upped their price objective on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

CVS Health Stock Down 0.2%

Shares of CVS Health stock opened at $76.78 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The business’s 50 day simple moving average is $71.98 and its 200-day simple moving average is $67.59. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is presently 74.30%.

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.