Boston Family Office LLC Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Boston Family Office LLC reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 88.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,537 shares of the pharmacy operator's stock after selling 72,847 shares during the period. Boston Family Office LLC's holdings in CVS Health were worth $600,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter valued at approximately $32,000. First Community Trust NA raised its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in CVS Health in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 1.8 %

CVS traded down $1.06 during midday trading on Tuesday, hitting $59.02. The company's stock had a trading volume of 7,884,767 shares, compared to its average volume of 11,362,798. The firm has a market cap of $74.27 billion, a P/E ratio of 14.98, a PEG ratio of 0.98 and a beta of 0.55. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $59.26 and a two-hundred day moving average price of $58.69.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. On average, research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.51%. CVS Health's dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVS. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Monday. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial reissued a "buy" rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.33.

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.