Fifth Third Bancorp Has $7.29 Million Stock Position in CVS Health Co. (NYSE:CVS)

Fifth Third Bancorp cut its position in CVS Health Co. (NYSE:CVS) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,339 shares of the pharmacy operator’s stock after selling 14,719 shares during the quarter. Fifth Third Bancorp’s holdings in CVS Health were worth $7,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays decreased 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. Truist Financial cut their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Finally, TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One 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 MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 1.6 %

Shares of CVS opened at $54.71 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59. The stock has a fifty day moving average price of $51.24 and a two-hundred day moving average price of $56.21. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the previous year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 5.22 EPS 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. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

CVS Health 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.