abrdn plc Trims Stock Position in CVS Health Co. (NYSE:CVS)

abrdn plc cut its stake in CVS Health Co. (NYSE:CVS) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 750,111 shares of the pharmacy operator’s stock after selling 53,815 shares during the period. abrdn plc owned about 0.06% of CVS Health worth $33,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the third quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the third quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. Finally, TD Cowen upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

CVS Health stock opened at $55.62 on Thursday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a fifty day moving average of $51.11 and a 200-day moving average of $56.06. The firm has a market capitalization of $69.99 billion, a P/E ratio of 14.12, a PEG ratio of 0.62 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio 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.