CVS Health Corporation (NYSE:CVS) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lessened its position in CVS Health Corporation (NYSE:CVS) by 32.6% in the 1st quarter, Holdings Channel reports. The fund owned 3,928 shares of the pharmacy operator’s stock after selling 1,900 shares during the period. Hemenway Trust Co LLC’s holdings in CVS Health were worth $266,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox boosted its holdings in CVS Health by 11.2% in 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 in the last quarter. Capital World Investors lifted its holdings in shares of CVS Health by 26.6% in 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 buying an additional 12,819,148 shares during the period. Geode Capital Management LLC boosted its stake in shares of CVS Health by 2.6% in 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 buying an additional 689,867 shares in the last quarter. Capital International Investors grew its holdings in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC raised its position in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE:CVS opened at $67.13 on Wednesday. The business’s fifty day moving average price is $65.09 and its two-hundred day moving average price is $60.25. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock has a market cap of $84.92 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director now directly owns 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

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.