Cambridge Trust Co. Reduces Stake in CVS Health Co. (NYSE:CVS)

Cambridge Trust Co. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 32.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 37,045 shares of the pharmacy operator’s stock after selling 17,571 shares during the period. Cambridge Trust Co.’s holdings in CVS Health were worth $2,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Moneta Group Investment Advisors LLC raised its holdings in shares of CVS Health by 103,371.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares in the last quarter. Norges Bank purchased a new stake in shares of CVS Health in the 4th quarter valued at about $1,425,416,000. FMR LLC raised its holdings in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares in the last quarter. Morgan Stanley increased its position in shares of CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after purchasing an additional 3,311,928 shares during the last quarter. Finally, Barclays PLC increased its position in shares of CVS Health by 97.8% during the 2nd quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after purchasing an additional 2,711,102 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.9 %

CVS Health stock traded up $0.62 during mid-day trading on Thursday, hitting $69.22. The company had a trading volume of 5,025,771 shares, compared to its average volume of 10,825,672. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $75.53 and its two-hundred day moving average price is $73.73. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a market capitalization of $87.25 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced 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. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 earnings per share. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

Analyst Ratings Changes

Several equities analysts have recently commented on CVS shares. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Piper Sandler increased their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Finally, HSBC started coverage on CVS Health in a research report on Friday, December 22nd. They set a “buy” rating and a $94.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.