Abbrea Capital LLC Has $473,000 Position in CVS Health Co. (NYSE:CVS)

Abbrea Capital LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,994 shares of the pharmacy operator’s stock after selling 885 shares during the quarter. Abbrea Capital LLC’s holdings in CVS Health were worth $473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in shares of CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock valued at $418,000 after purchasing an additional 1,112 shares during the period. Private Trust Co. NA increased its position in CVS Health by 21.9% in the 3rd quarter. Private Trust Co. NA now owns 17,253 shares of the pharmacy operator’s stock valued at $1,205,000 after buying an additional 3,103 shares in the last quarter. Riverwater Partners LLC grew its stake in CVS Health by 24.3% in the third quarter. Riverwater Partners LLC now owns 4,205 shares of the pharmacy operator’s stock valued at $294,000 after acquiring an additional 821 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of CVS Health by 6.8% during the third quarter. Proficio Capital Partners LLC now owns 3,751 shares of the pharmacy operator’s stock valued at $262,000 after acquiring an additional 238 shares in the last quarter. Finally, Capital Asset Advisory Services LLC raised its position in shares of CVS Health by 2.9% during the third quarter. Capital Asset Advisory Services LLC now owns 10,696 shares of the pharmacy operator’s stock worth $767,000 after purchasing an additional 299 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.44 during midday trading on Thursday, hitting $67.33. 8,892,187 shares of the company’s stock were exchanged, compared to its average volume of 10,708,073. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average price is $74.80 and its two-hundred day moving average price is $73.72. The company 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. As a group, research analysts forecast that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Finally, Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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.