Boston Family Office LLC Sells 72,847 Shares of CVS Health Co. (NYSE:CVS)

Boston Family Office LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 88.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,537 shares of the pharmacy operator’s stock after selling 72,847 shares during the quarter. Boston Family Office LLC’s holdings in CVS Health were worth $600,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its holdings in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. State of Michigan Retirement System lifted its holdings in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Swedbank AB purchased a new stake in CVS Health during the first quarter valued at about $110,816,000. Finally, AQR Capital Management LLC lifted its holdings in CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVS shares. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Stock Up 3.6 %

Shares of CVS Health stock opened at $60.10 on Tuesday. 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 52-week low of $52.71 and a 52-week high of $83.25. The stock has a market capitalization of $75.63 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. The company’s 50 day moving average price is $59.25 and its 200-day moving average price is $58.67.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. Equities research analysts forecast that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.