Boltwood Capital Management Has $587,000 Position in CVS Health Co. (NYSE:CVS)

Boltwood Capital Management reduced its position in shares of CVS Health Co. (NYSE:CVS) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,670 shares of the pharmacy operator’s stock after selling 530 shares during the quarter. Boltwood Capital Management’s holdings in CVS Health were worth $587,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVS. Norges Bank acquired a new stake in CVS Health during the 4th quarter valued at $839,574,000. Capital World Investors raised its stake in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Davis Selected Advisers raised its stake in CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Dodge & Cox raised its stake in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC raised its stake in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 0.0%

Shares of CVS opened at $63.56 on Thursday. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a 50-day moving average price of $65.39 and a two-hundred day moving average price of $59.79.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. Equities analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 63.48%.

Analyst Ratings Changes

CVS has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Two 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Company 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.