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

Prime Capital Investment Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 37.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the fourth quarter valued at about $32,000. First Community Trust NA increased its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the fourth quarter valued at about $34,000. Steph & Co. increased its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC increased its position in shares of CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVS shares. Barclays reduced their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target 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 report on Monday. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Trading Up 0.7 %

NYSE:CVS opened at $58.37 on Tuesday. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. The company’s 50 day moving average price is $58.31 and its 200-day moving average price is $62.88. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. 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 issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

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.