Birch Hill Investment Advisors LLC Sells 5,575 Shares of CVS Health Co. (NYSE:CVS)

Birch Hill Investment Advisors LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,895 shares of the pharmacy operator’s stock after selling 5,575 shares during the period. Birch Hill Investment Advisors LLC’s holdings in CVS Health were worth $1,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.5 %

NYSE CVS opened at $53.95 on Friday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a market capitalization of $67.90 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.60 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $50.79 and a two-hundred day moving average of $56.01.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the company posted $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

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.