Cumberland Partners Ltd Decreases Holdings in CVS Health Co. (NYSE:CVS)

Cumberland Partners Ltd lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 36,410 shares of the pharmacy operator’s stock after selling 945 shares during the period. Cumberland Partners Ltd’s holdings in CVS Health were worth $2,875,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVS. South Dakota Investment Council increased its stake in CVS Health by 3.9% during the 4th quarter. South Dakota Investment Council now owns 235,726 shares of the pharmacy operator’s stock worth $18,613,000 after buying an additional 8,933 shares during the period. NewSquare Capital LLC lifted its stake in shares of CVS Health by 3.3% in the fourth quarter. NewSquare Capital LLC now owns 101,367 shares of the pharmacy operator’s stock worth $7,892,000 after acquiring an additional 3,199 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new position in CVS Health in the fourth quarter valued at about $270,000. GAMMA Investing LLC acquired a new stake in CVS Health during the 4th quarter valued at approximately $508,000. Finally, Community Bank & Trust Waco Texas increased its holdings in CVS Health by 321.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 15,543 shares of the pharmacy operator’s stock worth $1,227,000 after purchasing an additional 11,851 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other 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 transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays started coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company lowered their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Finally, SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $1.13 during trading hours on Tuesday, hitting $68.50. The stock had a trading volume of 8,441,734 shares, compared to its average volume of 10,757,553. The stock’s fifty day simple moving average is $74.97 and its 200 day simple moving average is $73.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a market capitalization of $86.34 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.92 and a beta of 0.52. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Sell-side analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

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.