Community Bank N.A. Raises Position in CVS Health Co. (NYSE:CVS)

Community Bank N.A. grew its position in CVS Health Co. (NYSE:CVS) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 41,201 shares of the pharmacy operator’s stock after buying an additional 235 shares during the quarter. Community Bank N.A.’s holdings in CVS Health were worth $3,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Bryn Mawr Capital Management LLC boosted its holdings in CVS Health by 74.0% during the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after buying an additional 18,385 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after buying an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC boosted its holdings in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after buying an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after buying an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.1 %

CVS stock traded down $0.74 on Wednesday, hitting $67.76. 8,650,023 shares of the company were exchanged, compared to its average volume of 10,731,002. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The business’s fifty day moving average is $74.80 and its two-hundred day moving average is $73.72. The stock has a market capitalization of $85.41 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the business posted $1.99 earnings per share. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insider Buying and Selling

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CVS. Piper Sandler boosted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Barclays started coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $89.44.

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.