CVS Health Co. (NYSE:CVS) Shares Sold by Boston Family Office LLC

Boston Family Office LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 19.6% during the 4th quarter, HoldingsChannel reports. The fund owned 7,670 shares of the pharmacy operator’s stock after selling 1,867 shares during the period. Boston Family Office LLC’s holdings in CVS Health were worth $344,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. National Bank of Canada FI raised its position in shares of CVS Health by 37.3% during the 4th quarter. National Bank of Canada FI now owns 2,682,572 shares of the pharmacy operator’s stock valued at $118,892,000 after buying an additional 729,192 shares during the period. Colrain Capital LLC acquired a new position in CVS Health in the fourth quarter valued at about $3,876,000. Summit Financial LLC grew its stake in shares of CVS Health by 185.1% in the fourth quarter. Summit Financial LLC now owns 31,313 shares of the pharmacy operator’s stock valued at $1,406,000 after buying an additional 20,329 shares in the last quarter. Finally, Partners in Financial Planning acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $265,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $67.88 on Wednesday. The business has a 50 day simple moving average of $62.72 and a 200-day simple moving average of $57.83. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $75.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $85.59 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.92%. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Truist Financial increased their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.39.

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.