Sanibel Captiva Trust Company Inc. Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Sanibel Captiva Trust Company Inc. lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 34.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,733 shares of the pharmacy operator’s stock after selling 30,377 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CVS Health were worth $3,693,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health in the 2nd quarter worth $57,584,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of CVS Health by 27.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after purchasing an additional 145,158 shares during the period. Steph & Co. increased its holdings in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after purchasing an additional 16,840 shares during the period. Finally, First Hawaiian Bank increased its holdings in shares of CVS Health by 30.1% in the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock valued at $5,924,000 after purchasing an additional 23,213 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVS. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company increased their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $63.00 to $82.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.74.

CVS Health Stock Performance

NYSE CVS opened at $66.85 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $58.84 and its two-hundred day moving average is $61.20. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market capitalization of $84.10 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is currently 47.33%.

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.