Cumberland Partners Ltd Has $2.88 Million Position in CVS Health Co. (NYSE:CVS)

Cumberland Partners Ltd lowered its stake in CVS Health Co. (NYSE:CVS) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,410 shares of the pharmacy operator’s stock after selling 945 shares during the quarter. Cumberland Partners Ltd’s holdings in CVS Health were worth $2,875,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CVS. Atticus Wealth Management LLC grew its position in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC grew its position in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the period. Coston McIsaac & Partners boosted its position in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in CVS Health in the fourth quarter worth approximately $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of several recent research reports. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Performance

Shares of CVS traded down $1.13 during mid-day trading on Tuesday, reaching $68.50. The company had a trading volume of 8,441,734 shares, compared to its average volume of 10,757,553. The stock has a market capitalization of $86.34 billion, a P/E ratio of 10.60, a PEG ratio of 0.92 and a beta of 0.52. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The stock has a 50 day moving average of $74.97 and a two-hundred day moving average of $73.76. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter last year, the company earned $1.99 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts expect that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.