Linscomb Wealth Inc. Sells 1,002 Shares of CVS Health Co. (NYSE:CVS)

Linscomb Wealth Inc. reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 17.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,754 shares of the pharmacy operator’s stock after selling 1,002 shares during the quarter. Linscomb Wealth Inc.’s holdings in CVS Health were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garland Capital Management Inc. boosted 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 during the last quarter. Sound Income Strategies LLC boosted its stake in 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 acquiring an additional 162 shares during the last quarter. Plimoth Trust Co. LLC grew its position in shares of CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $53.19 on Friday. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. 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 company 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 stock has a 50-day moving average price of $59.23 and a 200-day moving average price of $58.72.

CVS Health (NYSE:CVS) last announced its 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 business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, equities analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 5.00%. CVS Health’s payout ratio is 67.51%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. 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. Finally, Truist Financial upped their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $72.44.

CVS Health 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.