First National Trust Co Cuts Stake in CVS Health Co. (NYSE:CVS)

First National Trust Co lowered its stake in CVS Health Co. (NYSE:CVS) by 28.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,375 shares of the pharmacy operator’s stock after selling 4,466 shares during the quarter. First National Trust Co’s holdings in CVS Health were worth $715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter valued at about $32,000. First Community Trust NA increased its position in shares of 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 acquiring an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the third quarter valued at about $33,000. Finally, ORG Partners LLC grew its stake in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVS. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.04 on Wednesday. The firm’s 50-day simple moving average is $59.53 and its 200 day simple moving average is $58.97. The stock has a market cap of $68.00 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.97 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly 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 net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the business posted $2.21 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 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.