Community Bank N.A. Sells 2,910 Shares of CVS Health Corporation (NYSE:CVS)

Community Bank N.A. lowered its position in CVS Health Corporation (NYSE:CVS) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,631 shares of the pharmacy operator’s stock after selling 2,910 shares during the period. Community Bank N.A.’s holdings in CVS Health were worth $1,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter valued at $29,000. McIlrath & Eck LLC increased its stake in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Financial Perspectives Inc raised its holdings in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares during the last quarter. Compass Planning Associates Inc acquired a new position in CVS Health during the 4th quarter worth about $37,000. Finally, Providence First Trust Co bought a new stake in CVS Health during the 4th quarter worth about $42,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Trading Down 0.9%

NYSE CVS opened at $67.13 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a market capitalization of $84.92 billion, a PE ratio of 16.02, a P/E/G ratio of 0.97 and a beta of 0.56. The stock has a 50-day simple moving average of $65.09 and a 200 day simple moving average of $60.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the prior year, the business posted $1.31 EPS. CVS Health’s revenue was up 7.0% on a year-over-year basis. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is 63.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVS. Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. UBS Group raised their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Mizuho increased their price objective on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Finally, Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

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.