Massmutual Trust Co. FSB ADV Sells 7,076 Shares of CVS Health Co. (NYSE:CVS)

Massmutual Trust Co. FSB ADV decreased its stake in CVS Health Co. (NYSE:CVS) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 69,076 shares of the pharmacy operator’s stock after selling 7,076 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in CVS Health were worth $4,344,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its holdings in CVS Health by 3.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 175,027 shares of the pharmacy operator’s stock worth $13,820,000 after acquiring an additional 6,412 shares during the period. Capital International Sarl bought a new stake in CVS Health during the 4th quarter worth approximately $1,595,000. Cetera Advisor Networks LLC increased its holdings in CVS Health by 5.5% during the 4th quarter. Cetera Advisor Networks LLC now owns 224,374 shares of the pharmacy operator’s stock worth $17,717,000 after acquiring an additional 11,631 shares during the period. 1832 Asset Management L.P. increased its holdings in CVS Health by 32.0% during the 4th quarter. 1832 Asset Management L.P. now owns 31,998 shares of the pharmacy operator’s stock worth $2,527,000 after acquiring an additional 7,762 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in CVS Health by 26.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 190,609 shares of the pharmacy operator’s stock worth $15,050,000 after acquiring an additional 39,493 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Barclays cut their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Stock Performance

Shares of CVS stock opened at $62.92 on Friday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company’s 50-day moving average is $58.52 and its 200 day moving average is $61.67. The company has a market capitalization of $78.99 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its quarterly earnings results 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. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. Sell-side analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

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.