LS Investment Advisors LLC Has $548,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

LS Investment Advisors LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 83.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,716 shares of the pharmacy operator’s stock after selling 42,576 shares during the period. LS Investment Advisors LLC’s holdings in CVS Health were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Garland Capital Management Inc. raised its holdings in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares in the last quarter. Plimoth Trust Co. LLC raised its holdings in shares of CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVS. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company dropped their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Trading Down 7.3 %

Shares of NYSE:CVS opened at $57.11 on Friday. The firm has a market cap of $71.84 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.82 and a beta of 0.55. 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 Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company’s fifty day simple moving average is $59.59 and its 200 day simple moving average is $59.23.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. As a group, research analysts forecast that CVS Health Co. will post 6.27 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

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.