abrdn plc Sells 1,032,565 Shares of CVS Health Co. (NYSE:CVS)

abrdn plc decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 34.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,947,828 shares of the pharmacy operator's stock after selling 1,032,565 shares during the period. abrdn plc owned 0.15% of CVS Health worth $153,800,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Weik Capital Management increased its stake in shares of CVS Health by 0.7% in the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator's stock worth $1,781,000 after purchasing an additional 120 shares in the last quarter. FCA Corp TX increased its stake in shares of CVS Health by 0.6% in the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator's stock worth $2,035,000 after purchasing an additional 122 shares in the last quarter. Arvest Trust Co. N A grew its stake in CVS Health by 1.2% during the fourth 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 in the last quarter. SOA Wealth Advisors LLC. grew its stake in CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator's stock valued at $226,000 after acquiring an additional 133 shares in the last quarter. Finally, Apella Capital LLC grew its stake in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator's stock valued at $272,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction on 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 sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Up 1.5 %

Shares of CVS traded up $1.02 during mid-day trading on Friday, reaching $69.75. The company's stock had a trading volume of 7,809,721 shares, compared to its average volume of 8,823,763. The stock has a market cap of $87.92 billion, a PE ratio of 10.80, a P/E/G ratio of 0.92 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company's fifty day moving average price is $75.29 and its two-hundred day moving average price is $73.74.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 EPS. On average, analysts predict that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.81%. CVS Health's dividend payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays assumed coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 price objective for the company. Royal Bank of Canada reduced their price objective on shares of CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, February 8th. HSBC assumed coverage on shares of CVS Health in a research note on Friday, December 22nd. They set a "buy" rating and a $94.00 price objective for the company. StockNews.com cut shares of CVS Health from a "buy" rating to a "hold" rating in a research note on Thursday, February 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.44.

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.