Icon Wealth Advisors LLC Sells 5,573 Shares of CVS Health Co. (NYSE:CVS)

Icon Wealth Advisors LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 77.8% during the third quarter, Holdings Channel reports. The fund owned 1,587 shares of the pharmacy operator’s stock after selling 5,573 shares during the period. Icon Wealth Advisors LLC’s holdings in CVS Health were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Biltmore Family Office LLC purchased a new position in shares of CVS Health in the third quarter valued at $212,000. Eagle Asset Management Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $2,795,000. Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the period. Pacer Advisors Inc. grew its position in shares of CVS Health by 2.6% during the 3rd quarter. Pacer Advisors Inc. now owns 633,045 shares of the pharmacy operator’s stock valued at $39,806,000 after purchasing an additional 15,889 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of CVS Health in the third quarter worth $1,013,000. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI lifted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Royal Bank of Canada cut their target price 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, November 15th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Trading Up 1.6 %

NYSE CVS opened at $58.01 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The stock has a market cap of $73.00 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.96 and a beta of 0.55. The stock has a 50 day simple moving average of $59.21 and a two-hundred day simple moving average of $58.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 4.59%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.