CVS Health (NYSE:CVS) Trading 0.3% Higher – Time to Buy?

CVS Health Co. (NYSE:CVS)’s share price was up 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 were traded during trading, a decline of 76% from the average daily volume of 12,048,108 shares. The stock had previously closed at $54.29.

Analysts Set New Price Targets

A number of brokerages have commented on CVS. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial reduced their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Price Performance

The company’s 50 day moving average is $50.69 and its 200 day moving average is $55.95. The stock has a market cap of $68.33 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.60 and a beta of 0.61. 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 Announces Dividend

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

Institutional Investors Weigh In On CVS Health

A number of large investors have recently added to or reduced their stakes in CVS. Assetmark Inc. increased its stake in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. lifted its position in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Principal Financial Group Inc. increased its position 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 purchasing an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. raised 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 buying an additional 10,453 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.