Hemenway Trust Co LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

Hemenway Trust Co LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 35.5% in the 1st quarter, HoldingsChannel reports. The firm owned 73,290 shares of the pharmacy operator’s stock after selling 40,393 shares during the quarter. Hemenway Trust Co LLC’s holdings in CVS Health were worth $5,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its position in CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after buying an additional 133 shares during the period. Apella Capital LLC grew its position in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after buying an additional 136 shares during the period. Prairie Sky Financial Group LLC grew its position in CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after buying an additional 141 shares during the period. WealthShield Partners LLC grew its position in CVS Health by 3.2% during the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after buying an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its position in CVS Health by 9.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Wells Fargo & Company dropped their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and dropped their target price for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. JPMorgan Chase & Co. dropped their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

Insider Activity

In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.2 %

CVS stock traded up $0.68 during trading on Thursday, reaching $58.21. 7,361,335 shares of the stock were exchanged, compared to its average volume of 11,828,175. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $58.14 and a 200-day moving average price of $69.03. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a market capitalization of $73.08 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 0.54 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm earned $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

CVS Health 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.