First City Capital Management Inc. Cuts Stock Position in CVS Health Co. (NYSE:CVS)

First City Capital Management Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 33.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,724 shares of the pharmacy operator’s stock after selling 4,334 shares during the quarter. First City Capital Management Inc.’s holdings in CVS Health were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth $32,000. First Community Trust NA boosted its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 5.4 %

CVS stock opened at $56.08 on Tuesday. The company’s 50 day moving average price is $59.19 and its 200 day moving average price is $58.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The firm has a market capitalization of $70.57 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 earnings per share. On average, equities research analysts anticipate that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVS. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $72.78.

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.