Birch Hill Investment Advisors LLC Sells 35,720 Shares of CVS Health Co. (NYSE:CVS)

Birch Hill Investment Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 411,655 shares of the pharmacy operator's stock after selling 35,720 shares during the period. CVS Health makes up about 1.7% of Birch Hill Investment Advisors LLC's investment portfolio, making the stock its 20th largest position. Birch Hill Investment Advisors LLC's holdings in CVS Health were worth $32,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of CVS Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator's stock worth $8,180,295,000 after acquiring an additional 485,744 shares during the last quarter. Morgan Stanley raised its position in shares of CVS Health by 10.9% during the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator's stock worth $3,128,984,000 after acquiring an additional 3,311,928 shares during the last quarter. FMR LLC raised its position in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator's stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator's stock worth $1,448,877,000 after acquiring an additional 15,532,533 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of CVS Health during the fourth quarter worth $1,425,416,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company's stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

CVS Health Stock Down 1.6 %

Shares of CVS stock traded down $1.10 on Friday, hitting $68.64. 7,665,142 shares of the stock were exchanged, compared to its average volume of 11,015,572. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $86.52 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.94 and a beta of 0.52. The business has a 50-day moving average of $75.85 and a 200 day moving average of $73.74. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts' expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 earnings per share. Equities analysts anticipate that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.88%. CVS Health's dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVS shares. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Friday, March 15th. Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They issued an "equal weight" rating and a $78.00 price objective for the company. Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. Wells Fargo & Company dropped their price objective on CVS Health from $83.00 to $76.00 and set an "equal weight" rating for the company in a report on Monday. Finally, StockNews.com downgraded CVS Health from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.44.

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.