New England Asset Management Inc. Trims Stock Position in CVS Health Co. (NYSE:CVS)

New England Asset Management Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,725 shares of the pharmacy operator’s stock after selling 500 shares during the quarter. New England Asset Management Inc.’s holdings in CVS Health were worth $6,082,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter worth $25,000. Strengthening Families & Communities LLC raised its holdings in CVS Health by 13.3% during the third quarter. Strengthening Families & Communities LLC now owns 27,218 shares of the pharmacy operator’s stock worth $1,711,000 after purchasing an additional 3,202 shares in the last quarter. Quest Partners LLC acquired a new stake in CVS Health in the third quarter valued at about $1,831,000. AMG National Trust Bank boosted its holdings in CVS Health by 123.0% in the 3rd quarter. AMG National Trust Bank now owns 113,975 shares of the pharmacy operator’s stock valued at $7,167,000 after purchasing an additional 62,861 shares in the last quarter. Finally, Aljian Capital Management LLC purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $694,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 5.4 %

Shares of NYSE CVS opened at $56.08 on Tuesday. The firm has a market cap of $70.57 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The firm’s 50 day moving average price is $59.19 and its 200 day moving average price is $58.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.74%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial upped their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.78.

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.