Boston Family Office LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Boston Family Office LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 88.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,537 shares of the pharmacy operator’s stock after selling 72,847 shares during the period. Boston Family Office LLC’s holdings in CVS Health were worth $600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the 3rd quarter worth about $33,000. Finally, First Community Trust NA raised its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada reduced their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Up 3.6 %

NYSE CVS opened at $60.10 on Tuesday. The stock’s 50 day moving average is $59.25 and its 200 day moving average is $58.67. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a market cap of $75.63 billion, a PE ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts predict that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.