Plimoth Trust Co. LLC Sells 7,030 Shares of CVS Health Co. (NYSE:CVS)

Plimoth Trust Co. LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,607 shares of the pharmacy operator’s stock after selling 7,030 shares during the period. Plimoth Trust Co. LLC’s holdings in CVS Health were worth $2,490,000 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 CVS. Pzena Investment Management LLC lifted its stake in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Capital International Investors lifted its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares during the last quarter. Capital World Investors boosted its stake in shares of CVS Health by 8.0% during 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 during the period. State of Michigan Retirement System increased its holdings in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. Finally, Swedbank AB bought a new stake in CVS Health in the 1st quarter valued at $110,816,000. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 3.6 %

CVS Health stock traded down $2.17 during trading hours on Monday, hitting $58.17. The stock had a trading volume of 13,518,228 shares, compared to its average volume of 11,239,656. The stock has a market cap of $73.03 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The business’s 50 day simple moving average is $59.80 and its 200-day simple moving average is $60.43. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business earned $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is presently 46.75%.

Analyst Ratings Changes

CVS has been the topic of several research reports. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $63.00 to $82.00 in a report on Thursday, October 10th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

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.