CVS Health Co. (NYSE:CVS) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. lowered its stake in CVS Health Co. (NYSE:CVS) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 232,496 shares of the pharmacy operator’s stock after selling 26,961 shares during the period. Community Trust & Investment Co.’s holdings in CVS Health were worth $10,437,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. increased its holdings in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. raised its position 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 acquiring an additional 37,395 shares in the last quarter. Principal Financial Group Inc. lifted its stake in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Finally, 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 during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Up 0.2 %

Shares of CVS stock opened at $51.60 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $51.68 and a 200 day simple moving average of $56.44. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock has a market capitalization of $64.93 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, January 23rd. 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.