Boston Financial Mangement LLC Sells 581 Shares of CVS Health Co. (NYSE:CVS)

Boston Financial Mangement LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,786 shares of the pharmacy operator’s stock after selling 581 shares during the quarter. Boston Financial Mangement LLC’s holdings in CVS Health were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in CVS Health during the 2nd quarter worth about $3,634,000. Arjuna Capital increased its stake in shares of CVS Health by 1.9% in the 2nd quarter. Arjuna Capital now owns 60,414 shares of the pharmacy operator’s stock valued at $3,568,000 after acquiring an additional 1,143 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of CVS Health by 187.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 579,117 shares of the pharmacy operator’s stock valued at $34,203,000 after acquiring an additional 377,739 shares during the last quarter. Smith Salley Wealth Management bought a new stake in shares of CVS Health in the 2nd quarter valued at about $1,190,000. Finally, Crewe Advisors LLC increased its stake in shares of CVS Health by 104.6% in the 2nd quarter. Crewe Advisors LLC now owns 1,019 shares of the pharmacy operator’s stock valued at $60,000 after acquiring an additional 521 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.5 %

CVS stock opened at $57.24 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.57 and a beta of 0.52. The business’s fifty day moving average price is $58.59 and its two-hundred day moving average price is $64.66. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.24.

CVS Health Company 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.