Stock Yards Bank & Trust Co. Has $2.78 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Stock Yards Bank & Trust Co. lowered its position in CVS Health Co. (NYSE:CVS) by 34.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,166 shares of the pharmacy operator’s stock after selling 23,609 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in CVS Health were worth $2,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Assetmark Inc. raised its position in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. raised its holdings in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in CVS Health during the second quarter worth $57,584,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 4.2 %

Shares of CVS stock opened at $49.59 on Friday. CVS Health Co. has a one year low of $49.47 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a fifty day moving average price of $58.86 and a 200 day moving average price of $58.75. The stock has a market cap of $62.40 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. Analysts predict that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.36%. CVS Health’s payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays reduced their price target 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. Truist Financial reaffirmed a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.