Abich Financial Wealth Management LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Abich Financial Wealth Management LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 82.5% during the 3rd quarter, Holdings Channel reports. The firm owned 643 shares of the pharmacy operator’s stock after selling 3,038 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in CVS Health were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new position in shares of CVS Health in the 1st quarter worth about $40,000. Retirement Group LLC grew its position in CVS Health by 54.3% during the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after buying an additional 182 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the third quarter valued at about $33,000. Finally, First Community Trust NA increased its position in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays lowered their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Stock Performance

Shares of CVS traded down $0.05 during trading hours on Tuesday, hitting $57.31. The stock had a trading volume of 848,733 shares, compared to its average volume of 11,164,239. The firm has a market capitalization of $71.95 billion, a PE ratio of 10.08, a PEG ratio of 0.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock has a fifty day moving average price of $59.79 and a 200 day moving average price of $59.76.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the business posted $2.21 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

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.