Capital Investment Advisory Services LLC Has $638,000 Stock Position in CVS Health Co. (NYSE:CVS)

Capital Investment Advisory Services LLC reduced its position in CVS Health Co. (NYSE:CVS) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,216 shares of the pharmacy operator’s stock after selling 3,021 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in CVS Health were worth $638,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. State Street Corp boosted its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in CVS Health during the third quarter worth $121,987,000. Pathway Financial Advisers LLC boosted its stake 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 acquiring an additional 1,701,331 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in CVS Health by 1,470.2% during the third quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after acquiring an additional 1,307,531 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. Truist Financial cut their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

CVS stock opened at $56.84 on Friday. The firm has a 50 day moving average of $51.28 and a 200-day moving average of $56.17. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The firm has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Co. will post 5.18 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s payout ratio 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.