CVS Health Co. (NYSE:CVS) Stock Position Cut by Hemenway Trust Co LLC

Hemenway Trust Co LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 72.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,174 shares of the pharmacy operator’s stock after selling 18,512 shares during the period. Hemenway Trust Co LLC’s holdings in CVS Health were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter worth about $32,000. First Community Trust NA lifted its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health during the 3rd quarter valued at about $33,000. Finally, ORG Partners LLC raised its holdings in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Down 2.2 %

NYSE CVS traded down $1.20 during trading on Tuesday, reaching $54.61. The company’s stock had a trading volume of 636,796 shares, compared to its average volume of 11,274,121. The business has a 50-day moving average price of $59.53 and a 200-day moving average price of $58.97. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a market capitalization of $68.72 billion, a PE ratio of 14.16, a PEG ratio of 0.88 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. On average, research analysts forecast that CVS Health Co. will post 5.63 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 67.51%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased 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 report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health 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.