Welch & Forbes LLC Sells 7,133 Shares of CVS Health Corporation (NYSE:CVS)

Welch & Forbes LLC decreased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 33,046 shares of the pharmacy operator's stock after selling 7,133 shares during the period. Welch & Forbes LLC's holdings in CVS Health were worth $2,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whitebox Advisors LLC bought a new stake in shares of CVS Health during the 4th quarter worth about $249,000. Cerity Partners LLC boosted its holdings in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the period. Bank of New York Mellon Corp boosted its holdings in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after purchasing an additional 183,813 shares during the period. Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health in the 4th quarter valued at about $121,742,000. Finally, Lazard Asset Management LLC boosted its holdings in CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock valued at $192,617,000 after purchasing an additional 293,406 shares during the period. Institutional investors own 80.66% of the company's stock.

CVS Health Trading Down 2.1%

NYSE CVS traded down $1.36 on Friday, hitting $61.94. The company's stock had a trading volume of 8,610,279 shares, compared to its average volume of 10,745,483. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The company's 50-day moving average is $64.80 and its 200 day moving average is $62.76. The firm has a market cap of $78.36 billion, a PE ratio of 14.78, a PEG ratio of 0.91 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The company's revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVS. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Mizuho boosted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.06.

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.