Spinnaker Trust Has $400,000 Holdings in CVS Health Co. (NYSE:CVS)

Spinnaker Trust cut its holdings in CVS Health Co. (NYSE:CVS) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,917 shares of the pharmacy operator’s stock after selling 5,947 shares during the period. Spinnaker Trust’s holdings in CVS Health were worth $400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Advisors Network LLC increased its holdings in CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after buying an additional 200 shares during the last quarter. Widmann Financial Services Inc. increased its holdings in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after buying an additional 200 shares during the last quarter. DT Investment Partners LLC increased its holdings in CVS Health by 7.8% during the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after buying an additional 202 shares during the last quarter. United Asset Strategies Inc. increased its holdings in CVS Health by 2.4% during the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock worth $580,000 after buying an additional 212 shares during the last quarter. Finally, Albert D Mason Inc. increased its holdings in CVS Health by 1.5% during the third quarter. Albert D Mason Inc. now owns 15,425 shares of the pharmacy operator’s stock worth $970,000 after buying an additional 224 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVS shares. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday. Wolfe Research upped their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Trading Down 1.0 %

CVS opened at $65.71 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a 50-day simple moving average of $51.11 and a 200 day simple moving average of $56.08. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued 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 4.05%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.