Abbrea Capital LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Abbrea Capital LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,981 shares of the pharmacy operator’s stock after selling 758 shares during the period. Abbrea Capital LLC’s holdings in CVS Health were worth $294,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Trueblood Wealth Management LLC grew its stake in shares of CVS Health by 35.1% in the second quarter. Trueblood Wealth Management LLC now owns 3,854 shares of the pharmacy operator’s stock worth $228,000 after acquiring an additional 1,001 shares during the period. American Century Companies Inc. grew its position in CVS Health by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 968,121 shares of the pharmacy operator’s stock worth $57,177,000 after purchasing an additional 28,250 shares during the period. Bahl & Gaynor Inc. raised its stake in CVS Health by 8.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 17,105 shares of the pharmacy operator’s stock valued at $1,010,000 after buying an additional 1,272 shares during the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of CVS Health by 11.9% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,886 shares of the pharmacy operator’s stock valued at $111,000 after buying an additional 200 shares during the period. Finally, VitalStone Financial LLC grew its holdings in shares of CVS Health by 19,432.1% in the second quarter. VitalStone Financial LLC now owns 5,469 shares of the pharmacy operator’s stock worth $323,000 after acquiring an additional 5,441 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.8 %

Shares of CVS stock opened at $57.98 on Friday. The stock has a market cap of $72.94 billion, a P/E ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53. The company’s fifty day simple moving average is $58.28 and its two-hundred day simple moving average is $63.17. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. Analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVS shares. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

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.