Cumberland Partners Ltd Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Cumberland Partners Ltd cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,150 shares of the pharmacy operator’s stock after selling 1,245 shares during the period. Cumberland Partners Ltd’s holdings in CVS Health were worth $1,833,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Garland Capital Management Inc. grew its position in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares during the last quarter. Plimoth Trust Co. LLC lifted its holdings in CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC grew its position in CVS Health by 2.5% during the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after buying an additional 183 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. UBS Group lifted their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Nine 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Down 2.4 %

Shares of CVS traded down $1.32 during midday trading on Tuesday, reaching $54.49. The stock had a trading volume of 1,316,175 shares, compared to its average volume of 11,277,223. The company has a market cap of $68.57 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66. The company’s fifty day simple moving average is $59.53 and its two-hundred day simple moving average is $58.97. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities research analysts expect that CVS Health Co. will post 5.63 earnings per share 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 dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio 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.