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

Capital Investment Advisors LLC decreased its position in CVS Health Co. (NYSE:CVS) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 409,608 shares of the pharmacy operator’s stock after selling 94,891 shares during the period. Capital Investment Advisors LLC’s holdings in CVS Health were worth $18,387,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $32,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 5.4 %

CVS traded up $2.61 during trading on Monday, hitting $50.62. 11,437,630 shares of the stock were exchanged, compared to its average volume of 12,879,149. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a 50 day simple moving average of $51.82 and a 200 day simple moving average of $56.55. The firm has a market cap of $63.70 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released 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. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company posted $2.21 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.25%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group upped their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

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.