New England Asset Management Inc. Has $3.88 Million Stake in CVS Health Co. (NYSE:CVS)

New England Asset Management Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,470 shares of the pharmacy operator's stock after selling 10,255 shares during the quarter. New England Asset Management Inc.'s holdings in CVS Health were worth $3,882,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter worth about $29,000. Financial Perspectives Inc grew its holdings in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the last quarter. Compass Planning Associates Inc bought a new stake in CVS Health during the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVS shares. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.94.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This represents a 320.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.22% of the company's stock.

CVS Health Stock Up 3.4%

Shares of NYSE CVS traded up $2.04 during midday trading on Friday, reaching $62.51. The company's stock had a trading volume of 10,777,559 shares, compared to its average volume of 11,435,194. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market capitalization of $79.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60. The stock has a 50 day simple moving average of $66.62 and a 200-day simple moving average of $59.16.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the company earned $1.31 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.26%. CVS Health's dividend payout ratio (DPR) is 63.48%.

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.