Hemenway Trust Co LLC Sells 40,393 Shares of CVS Health Co. (NYSE:CVS)

Hemenway Trust Co LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 35.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,290 shares of the pharmacy operator’s stock after selling 40,393 shares during the period. 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.

A number of other large investors also recently made changes to their positions in the company. Biechele Royce Advisors increased its stake in CVS Health by 1.8% during the 1st quarter. Biechele Royce Advisors now owns 202,800 shares of the pharmacy operator’s stock worth $16,176,000 after acquiring an additional 3,513 shares during the period. Keener Financial Planning LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at $63,000. Valley Wealth Managers Inc. boosted its holdings in shares of CVS Health by 1.0% in the 1st quarter. Valley Wealth Managers Inc. now owns 262,335 shares of the pharmacy operator’s stock valued at $20,924,000 after purchasing an additional 2,585 shares in the last quarter. WBI Investments LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at $971,000. Finally, Affinity Investment Advisors LLC boosted its holdings in shares of CVS Health by 1.1% in the 1st quarter. Affinity Investment Advisors LLC now owns 27,425 shares of the pharmacy operator’s stock valued at $2,187,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Mizuho reduced their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Finally, Truist Financial reissued a “buy” rating and set a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Trading Up 1.2 %

Shares of CVS stock traded up $0.68 during mid-day trading on Thursday, hitting $58.21. The company’s stock had a trading volume of 7,361,335 shares, compared to its average volume of 11,828,175. The company’s fifty day simple moving average is $58.14 and its 200-day simple moving average is $69.03. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The company has a market cap of $73.08 billion, a PE ratio of 10.23, a P/E/G ratio of 0.54 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 22nd will be given a $0.665 dividend. 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 payout ratio is 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.