Heritage Trust Co Trims Position in CVS Health Co. (NYSE:CVS)

Heritage Trust Co cut its holdings in CVS Health Co. (NYSE:CVS) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,180 shares of the pharmacy operator’s stock after selling 681 shares during the period. Heritage Trust Co’s holdings in CVS Health were worth $1,062,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of CVS Health by 3.2% in the third quarter. BlackRock Inc. now owns 100,284,278 shares of the pharmacy operator’s stock valued at $5,856,601,000 after buying an additional 3,127,908 shares in the last quarter. Morgan Stanley lifted its position in shares of CVS Health by 19.4% in the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock worth $1,224,919,000 after acquiring an additional 3,352,364 shares during the period. Nordea Investment Management AB increased its holdings in CVS Health by 91.3% in the 2nd quarter. Nordea Investment Management AB now owns 18,518,644 shares of the pharmacy operator’s stock valued at $1,189,082,000 after buying an additional 8,837,591 shares during the period. Veritas Asset Management LLP increased its stake in CVS Health by 3.0% in the third quarter. Veritas Asset Management LLP now owns 10,794,633 shares of the pharmacy operator’s stock valued at $630,407,000 after acquiring an additional 309,570 shares during the period. Finally, LSV Asset Management grew its stake in shares of CVS Health by 1.1% in the 3rd quarter. LSV Asset Management now owns 7,230,350 shares of the pharmacy operator’s stock valued at $422,252,000 after purchasing an additional 80,342 shares during the period. 68.47% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 11th. Credit Suisse Group raised their target price on CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, November 9th. SVB Leerink raised their price target on shares of CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research note on Monday, November 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and an average price target of $82.43.

In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $70.00, for a total value of $499,660.00. Following the transaction, the executive vice president now owns 8,023 shares of the company’s stock, valued at $561,610. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Shares of NYSE:CVS opened at $67.79 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a market cap of $88.73 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.54 and a beta of 0.69. The business has a 50-day simple moving average of $63.22 and a two-hundred day simple moving average of $62.98. CVS Health Co. has a fifty-two week low of $52.04 and a fifty-two week high of $76.44.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The firm had revenue of $67.05 billion during the quarter, compared to analyst estimates of $66.54 billion. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. As a group, research analysts predict that CVS Health Co. will post 7.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.95%. CVS Health’s dividend payout ratio is presently 28.25%.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

Further Reading: Understanding Specialty Certificates of Deposit

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS).

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.