Choate Investment Advisors Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Choate Investment Advisors trimmed its holdings in CVS Health Co. (NYSE:CVS) by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,722 shares of the pharmacy operator’s stock after selling 5,269 shares during the period. Choate Investment Advisors’ holdings in CVS Health were worth $661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CVS. Widmann Financial Services Inc. grew its holdings in shares of CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares in the last quarter. EagleClaw Capital Managment LLC lifted its position in CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock worth $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC boosted its stake in CVS Health by 4.8% during the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after buying an additional 204 shares in the last quarter. Rogco LP increased its holdings in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 210 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of CVS Health by 3.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator’s stock worth $304,000 after acquiring an additional 248 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

Shares of NYSE CVS opened at $65.63 on Monday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm’s 50-day moving average is $58.47 and its 200-day moving average is $56.98. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $82.75 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 net margin of 1.24% and a return on equity of 9.11%. Equities analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Insider Transactions at CVS Health

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group dropped their price target 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. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

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.