Hemenway Trust Co LLC Has $262,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Hemenway Trust Co LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 18.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,828 shares of the pharmacy operator’s stock after selling 1,346 shares during the quarter. Hemenway Trust Co LLC’s holdings in CVS Health were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVS. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc grew its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several analyst reports. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. UBS Group cut their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Truist Financial increased their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of CVS Health stock opened at $63.54 on Friday. The stock has a market cap of $80.11 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $75.12. The company’s fifty day moving average is $63.47 and its 200 day moving average is $58.01.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.