Massachusetts Financial Services Co. MA Sells 2,752 Shares of CVS Health Co. (NYSE:CVS)

Massachusetts Financial Services Co. MA trimmed its position in CVS Health Co. (NYSE:CVSFree Report) by 21.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,835 shares of the pharmacy operator’s stock after selling 2,752 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CVS Health were worth $687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new position in CVS Health in the 4th quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of CVS Health during the 2nd quarter worth $37,000. Northwest Capital Management Inc acquired a new stake in shares of CVS Health during the 2nd quarter worth $44,000. True Wealth Design LLC acquired a new stake in shares of CVS Health during the 4th quarter worth $48,000. Finally, Godsey & Gibb Inc. grew its holdings in shares of CVS Health by 153.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 758 shares of the pharmacy operator’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $77.29 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $97.27 billion, a PE ratio of 11.96, a P/E/G ratio of 1.74 and a beta of 0.50. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $90.57. The stock has a 50-day moving average price of $76.19 and a two-hundred day moving average price of $72.00.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the company earned $1.99 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that CVS Health Co. will post 8.38 EPS for the current year.

CVS Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Monday, January 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from CVS Health’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, January 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Morgan Stanley reduced their target price on CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. HSBC initiated coverage on CVS Health in a report on Friday, December 22nd. They set a “buy” rating and a $94.00 target price on the stock. TheStreet raised CVS Health from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. TD Cowen reduced their price objective on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.11.

Check Out Our Latest Analysis on CVS Health

CVS Health Company Profile

(Free Report)

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Further Reading

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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