Wesbanco Bank Inc. Sells 111,264 Shares of CVS Health Co. (NYSE:CVS)

Wesbanco Bank Inc. trimmed its holdings in CVS Health Co. (NYSE:CVS) by 66.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,297 shares of the pharmacy operator’s stock after selling 111,264 shares during the quarter. Wesbanco Bank Inc.’s holdings in CVS Health were worth $2,482,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter worth approximately $25,000. Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at $32,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 1.7 %

Shares of CVS stock opened at $53.87 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a market capitalization of $67.79 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.80 and a beta of 0.59. The company’s fifty day simple moving average is $51.23 and its two-hundred day simple moving average is $56.24.

CVS Health (NYSE:CVS) last announced 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. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the company earned $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

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.