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

Farmers Trust Co. trimmed its position in CVS Health Co. (NYSE:CVS) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,622 shares of the pharmacy operator’s stock after selling 2,871 shares during the period. Farmers Trust Co.’s holdings in CVS Health were worth $3,440,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVS. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. boosted its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the period. Principal Financial Group Inc. increased its position in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after acquiring an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after acquiring an additional 10,453 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.1 %

Shares of NYSE:CVS traded down $0.06 during trading on Wednesday, hitting $45.72. The company’s stock had a trading volume of 8,583,431 shares, compared to its average volume of 11,570,072. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $81.03. The stock’s 50-day moving average price is $52.40 and its two-hundred day moving average price is $56.86. The company has a market capitalization of $57.53 billion, a PE ratio of 11.60, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.82%. CVS Health’s dividend payout ratio is 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Company 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.