Abbrea Capital LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Abbrea Capital LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,994 shares of the pharmacy operator’s stock after selling 885 shares during the period. Abbrea Capital LLC’s holdings in CVS Health were worth $473,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CVS. SOA Wealth Advisors LLC. lifted its holdings in shares of CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after acquiring an additional 133 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC lifted its holdings in shares of CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC lifted its holdings in shares of CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after acquiring an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after acquiring an additional 142 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.44 during mid-day trading on Thursday, hitting $67.33. The company had a trading volume of 8,892,187 shares, compared to its average volume of 10,708,073. The stock has a market cap of $84.87 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm’s 50 day simple moving average is $74.80 and its two-hundred day simple moving average is $73.72.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Piper Sandler boosted their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. SVB Leerink started coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, Barclays assumed coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.