Plimoth Trust Co. LLC Sells 9,646 Shares of CVS Health Co. (NYSE:CVS)

Plimoth Trust Co. LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,961 shares of the pharmacy operator’s stock after selling 9,646 shares during the period. Plimoth Trust Co. LLC’s holdings in CVS Health were worth $1,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 195 shares during the last quarter. Integrated Advisors Network LLC lifted its position in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. lifted its position in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS Health stock traded up $0.66 during midday trading on Wednesday, hitting $57.99. 2,139,634 shares of the company were exchanged, compared to its average volume of 13,072,799. The firm has a market capitalization of $72.97 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The business has a fifty day simple moving average of $51.27 and a two-hundred day simple moving average of $56.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVS shares. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada decreased 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. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

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.