Sheaff Brock Investment Advisors LLC Reduces Position in CVS Health Co. (NYSE:CVS)

Sheaff Brock Investment Advisors LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,607 shares of the pharmacy operator’s stock after selling 586 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in CVS Health were worth $415,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVS. Livelsberger Financial Advisory purchased a new stake in CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at $32,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the 3rd quarter valued at $33,000. Finally, ORG Partners LLC boosted its holdings in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.44.

CVS Health Trading Down 3.4 %

Shares of CVS stock opened at $53.19 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market cap of $66.93 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55. The company has a 50-day moving average of $59.23 and a two-hundred day moving average of $58.72. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25.

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, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. On average, analysts predict that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

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