Rockland Trust Co. Cuts Position in CVS Health Co. (NYSE:CVS)

Rockland Trust Co. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,398 shares of the pharmacy operator’s stock after selling 616 shares during the period. Rockland Trust Co.’s holdings in CVS Health were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Apella Capital LLC purchased a new position in CVS Health in the 3rd quarter valued at approximately $249,000. Alpha Omega Wealth Management LLC increased its position in shares of CVS Health by 1.3% in the third quarter. Alpha Omega Wealth Management LLC now owns 153,687 shares of the pharmacy operator’s stock valued at $9,664,000 after buying an additional 1,969 shares in the last quarter. Farmers Trust Co. boosted its position in shares of CVS Health by 7.6% in the 3rd quarter. Farmers Trust Co. now owns 79,493 shares of the pharmacy operator’s stock worth $4,999,000 after buying an additional 5,634 shares in the last quarter. Czech National Bank grew its stake in CVS Health by 7.2% in the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock valued at $16,124,000 after acquiring an additional 17,206 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in CVS Health by 124.1% during the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after acquiring an additional 34,198 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent research reports. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a research note on Friday. Evercore ISI dropped their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.40.

CVS Health Trading Up 2.7 %

NYSE CVS traded up $1.67 during mid-day trading on Friday, hitting $64.59. The company’s stock had a trading volume of 16,313,877 shares, compared to its average volume of 11,032,696. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The stock’s fifty day simple moving average is $58.60 and its two-hundred day simple moving average is $61.58. The firm has a market capitalization of $81.08 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.