Northwest Bank & Trust Co Acquires New Stake in CVS Health Co. (NYSE:CVS)

Northwest Bank & Trust Co bought a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, Holdings Channel reports. The firm bought 17,110 shares of the pharmacy operator’s stock, valued at approximately $1,351,000. CVS Health makes up about 1.2% of Northwest Bank & Trust Co’s investment portfolio, making the stock its 17th largest position.

Other hedge funds have also recently made changes to their positions in the company. Atticus Wealth Management LLC raised its holdings in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas raised its stake in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Creekmur Asset Management LLC purchased a new stake in CVS Health during the 4th quarter worth about $34,000. Scarborough Advisors LLC purchased a new position in CVS Health during the 4th quarter valued at about $37,000. Finally, ZRC Wealth Management LLC increased its position in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 1.3 %

CVS traded down $0.81 on Friday, hitting $60.22. 11,690,758 shares of the company were exchanged, compared to its average volume of 12,659,378. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a fifty day simple moving average of $61.51 and a two-hundred day simple moving average of $70.92. The stock has a market capitalization of $75.60 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.42%. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird initiated coverage on shares of CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Barclays reduced their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research note on Wednesday. Truist Financial restated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group dropped their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.05.

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.