CVS Health Co. (NYSE:CVS) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co lowered its position in shares of CVS Health Co. (NYSE:CVS) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,792 shares of the pharmacy operator’s stock after selling 1,934 shares during the period. WASHINGTON TRUST Co’s holdings in CVS Health were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC increased its position in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP increased its position in CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after acquiring an additional 2,371,563 shares during the period. State Street Corp increased its position in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health in the 3rd quarter valued at about $121,987,000. Finally, Pathway Financial Advisers LLC increased its position in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVS shares. Evercore ISI boosted their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. TD Cowen boosted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Truist Financial boosted their target price on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. Four 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 company’s stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Price Performance

CVS stock opened at $65.71 on Friday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock’s 50 day moving average price is $51.11 and its 200 day moving average price is $56.08. The firm has a market cap of $82.68 billion, a P/E ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, sell-side analysts expect that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

CVS Health Company 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.