CVS Health (NYSE:CVS) Trading Up 0.3% – What’s Next?

CVS Health Co. (NYSE:CVS)’s stock price rose 0.3% during trading on Tuesday . The company traded as high as $55.94 and last traded at $54.44. Approximately 2,883,363 shares changed hands during trading, a decline of 76% from the average daily volume of 12,048,108 shares. The stock had previously closed at $54.29.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Finally, Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

The company has a market capitalization of $68.33 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.60 and a beta of 0.61. The stock has a fifty day simple moving average of $50.69 and a 200-day simple moving average of $55.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Institutional Trading of CVS Health

Several institutional investors have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares in the last quarter. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Principal Financial Group Inc. increased its stake in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after buying an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its position in shares of CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after acquiring an additional 10,453 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.