Mayflower Financial Advisors LLC Lowers Position in CVS Health Corporation (NYSE:CVS)

Mayflower Financial Advisors LLC lessened its stake in CVS Health Corporation (NYSE:CVS) by 10.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,507 shares of the pharmacy operator’s stock after selling 975 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in CVS Health were worth $576,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CVS. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in CVS Health during the fourth quarter valued at $43,000. PARK CIRCLE Co raised its stake in CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its stake in CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 446 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new stake in CVS Health during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.2%

NYSE CVS opened at $63.80 on Thursday. The company’s 50-day moving average price is $64.89 and its 200-day moving average price is $62.63. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a market cap of $80.70 billion, a PE ratio of 15.23, a PEG ratio of 0.91 and a beta of 0.57. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. Equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health’s payout ratio is 63.48%.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVS shares. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Jefferies Financial Group upped their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Robert W. Baird upped their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $75.06.

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.