CVS Health Co. (NYSE:CVS) Stake Lessened by Baldwin Brothers LLC MA

Baldwin Brothers LLC MA trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 18.1% during the second quarter, HoldingsChannel reports. The fund owned 8,552 shares of the pharmacy operator’s stock after selling 1,894 shares during the quarter. Baldwin Brothers LLC MA’s holdings in CVS Health were worth $505,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVS. Norges Bank bought a new position in shares of CVS Health during the fourth quarter worth about $1,092,040,000. Capital International Investors raised its stake in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in CVS Health by 573.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock worth $442,944,000 after buying an additional 4,729,207 shares during the last quarter. Capital World Investors grew its position in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock traded down $0.74 during trading hours on Friday, hitting $57.11. 8,345,205 shares of the company traded hands, compared to its average volume of 11,546,901. The firm’s 50-day simple moving average is $59.45 and its two-hundred day simple moving average is $66.25. The firm has a market cap of $71.69 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. As a group, analysts forecast that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.66%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI decreased their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group lowered their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $73.19.

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.