CVS Health Co. (NYSE:CVS) Stock Position Decreased by Spears Abacus Advisors LLC

Spears Abacus Advisors LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 34.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,400 shares of the pharmacy operator’s stock after selling 5,515 shares during the period. Spears Abacus Advisors LLC’s holdings in CVS Health were worth $773,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wealth Quarterback LLC boosted its holdings in CVS Health by 1.2% in the 4th quarter. Wealth Quarterback LLC now owns 10,015 shares of the pharmacy operator’s stock valued at $933,000 after purchasing an additional 119 shares during the period. Forte Capital LLC ADV boosted its stake in shares of CVS Health by 1.4% in the fourth quarter. Forte Capital LLC ADV now owns 8,743 shares of the pharmacy operator’s stock valued at $815,000 after buying an additional 119 shares during the period. Weik Capital Management grew its position in CVS Health by 0.7% during the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after buying an additional 120 shares in the last quarter. FCA Corp TX raised its holdings in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after acquiring an additional 122 shares in the last quarter. Finally, Arvest Trust Co. N A lifted its position in shares of CVS Health by 1.2% during the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after acquiring an additional 131 shares during the period. 75.99% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 25,759 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total value of $1,929,864.28. Following the transaction, the senior vice president now owns 4,698 shares of the company’s stock, valued at $351,974.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Barclays decreased their target price on shares of CVS Health from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Wolfe Research upgraded shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $91.00 price target on shares of CVS Health in a research report on Friday, August 18th. Piper Sandler decreased their price objective on shares of CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. Finally, Truist Financial decreased their target price on CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $96.00.

CVS Health Stock Up 2.6 %

CVS Health stock traded up $1.82 during trading on Tuesday, hitting $70.57. 8,852,356 shares of the company were exchanged, compared to its average volume of 9,095,865. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $70.75 and its 200 day moving average is $72.16. CVS Health Co. has a 52 week low of $64.62 and a 52 week high of $104.83. The company has a market capitalization of $90.64 billion, a P/E ratio of 30.15, a PEG ratio of 1.24 and a beta of 0.63.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The company had revenue of $88.92 billion during the quarter, compared to the consensus estimate of $86.41 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, July 20th. CVS Health’s dividend payout ratio is presently 106.14%.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.