Prime Capital Investment Advisors LLC Sells 30,121 Shares of CVS Health Co. (NYSE:CVS)

Prime Capital Investment Advisors LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 37.7% during the 2nd quarter, Holdings Channel reports. The fund owned 49,730 shares of the pharmacy operator’s stock after selling 30,121 shares during the period. Prime Capital Investment Advisors LLC’s holdings in CVS Health were worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health during the 4th quarter valued at $34,000. Steph & Co. raised its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of CVS Health during the 4th quarter valued at $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of CVS Health during the 4th quarter valued at $37,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $58.37 on Tuesday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $73.28 billion, a P/E ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. The firm has a fifty day simple moving average of $58.31 and a two-hundred day simple moving average of $62.88. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 EPS. On average, analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.