WASHINGTON TRUST Co Trims Position in CVS Health Co. (NYSE:CVS)

WASHINGTON TRUST Co lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 18.0% during the fourth quarter, HoldingsChannel reports. The firm owned 8,792 shares of the pharmacy operator’s stock after selling 1,934 shares during the quarter. WASHINGTON TRUST Co’s holdings in CVS Health were worth $395,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Integrated Advisors Network LLC increased its holdings in shares of CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after buying an additional 200 shares during the last quarter. Widmann Financial Services Inc. increased 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 buying an additional 200 shares during the last quarter. DT Investment Partners LLC increased its holdings in shares of CVS Health by 7.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after buying an additional 202 shares during the last quarter. United Asset Strategies Inc. increased its holdings in shares of CVS Health by 2.4% during the 3rd quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock worth $580,000 after buying an additional 212 shares during the last quarter. Finally, Albert D Mason Inc. increased its holdings in shares of CVS Health by 1.5% during the 3rd quarter. Albert D Mason Inc. now owns 15,425 shares of the pharmacy operator’s stock worth $970,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.0 %

NYSE:CVS opened at $65.71 on Friday. The company has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a 50-day simple moving average of $51.11 and a 200 day simple moving average of $56.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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%. Sell-side analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health’s payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVS shares. Truist Financial raised their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their price objective on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada cut 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. Finally, Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $75.00 in a research report on Thursday. Four equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.28.

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.