CVS Health Co. (NYSE:CVS) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 8.1% during the third quarter, HoldingsChannel.com reports. The fund owned 6,607 shares of the pharmacy operator’s stock after selling 586 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in CVS Health were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Spirepoint Private Client LLC purchased a new position in CVS Health in the 1st quarter valued at $225,000. TIAA Trust National Association grew its position in CVS Health by 0.9% in the 1st quarter. TIAA Trust National Association now owns 40,844 shares of the pharmacy operator’s stock valued at $3,258,000 after buying an additional 369 shares during the last quarter. Catalytic Wealth RIA LLC grew its position in CVS Health by 13.0% in the 1st quarter. Catalytic Wealth RIA LLC now owns 17,534 shares of the pharmacy operator’s stock valued at $1,399,000 after buying an additional 2,022 shares during the last quarter. Resurgent Financial Advisors LLC lifted its holdings in CVS Health by 45.3% in the first quarter. Resurgent Financial Advisors LLC now owns 4,339 shares of the pharmacy operator’s stock valued at $346,000 after acquiring an additional 1,352 shares during the period. Finally, Davis R M Inc. lifted its holdings in CVS Health by 8.7% in the first quarter. Davis R M Inc. now owns 3,010 shares of the pharmacy operator’s stock valued at $240,000 after acquiring an additional 242 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Truist Financial raised their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group boosted their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.44.

CVS Health Stock Performance

CVS Health stock opened at $53.19 on Friday. The stock has a market cap of $66.93 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $59.23 and a 200-day moving average of $58.72. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 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.