Boltwood Capital Management Sells 530 Shares of CVS Health Co. (NYSE:CVS)

Boltwood Capital Management lowered its position in CVS Health Co. (NYSE:CVS) by 5.8% in the first quarter, HoldingsChannel.com reports. The fund owned 8,670 shares of the pharmacy operator’s stock after selling 530 shares during the quarter. Boltwood Capital Management’s holdings in CVS Health were worth $587,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC increased 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 valued at $32,000 after purchasing an additional 174 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in shares of CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock valued at $56,000 after purchasing an additional 189 shares in the last quarter. EagleClaw Capital Managment LLC increased its holdings in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after purchasing an additional 204 shares in the last quarter. Finally, Angeles Investment Advisors LLC increased its holdings in shares of CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock valued at $256,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVS shares. Truist Financial raised their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Barclays lowered their target price on shares of CVS Health from $82.00 to $79.00 and set an “overweight” rating for the company in a report on Monday. Finally, Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Price Performance

Shares of CVS stock opened at $63.56 on Thursday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The firm has a market capitalization of $80.40 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average of $65.39 and a 200-day moving average of $59.79.

CVS Health (NYSE:CVS) 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 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 63.48%.

About CVS Health

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.