Rockland Trust Co. Decreases Position in CVS Health Co. (NYSE:CVS)

Rockland Trust Co. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 14.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,494 shares of the pharmacy operator’s stock after selling 904 shares during the period. Rockland Trust Co.’s holdings in CVS Health were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Oak Thistle LLC purchased a new position in shares of CVS Health in the fourth quarter valued at $837,000. Mendota Financial Group LLC boosted its position in CVS Health by 32,600.0% in the 4th quarter. Mendota Financial Group LLC now owns 981 shares of the pharmacy operator’s stock valued at $44,000 after buying an additional 978 shares during the last quarter. Grandview Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $311,000. Marcum Wealth LLC lifted its stake in shares of CVS Health by 17.2% in the fourth quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator’s stock worth $392,000 after acquiring an additional 1,283 shares in the last quarter. Finally, Persium Advisors LLC purchased a new position in CVS Health in the fourth quarter valued at about $323,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $52.15 on Thursday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market cap of $65.63 billion, a PE ratio of 13.24, a P/E/G ratio of 0.85 and a beta of 0.59. The stock has a 50 day simple moving average of $51.68 and a 200-day simple moving average of $56.44.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.10%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Truist Financial decreased their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.71.

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.