CVS Health Co. (NYSE:CVS) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 29.2% during the third quarter, Holdings Channel reports. The firm owned 13,074 shares of the pharmacy operator’s stock after selling 5,396 shares during the period. Private Trust Co. NA’s holdings in CVS Health were worth $822,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the 3rd quarter worth approximately $32,000. First Community Trust NA increased its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVS. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Truist Financial restated a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Performance

NYSE:CVS opened at $59.02 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $74.27 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The firm has a 50-day moving average price of $59.26 and a two-hundred day moving average price of $58.69. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

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.