Piscataqua Savings Bank Trims Holdings in CVS Health Co. (NYSE:CVS)

Piscataqua Savings Bank cut its position in shares of CVS Health Co. (NYSE:CVS) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,552 shares of the pharmacy operator’s stock after selling 1,069 shares during the quarter. Piscataqua Savings Bank’s holdings in CVS Health were worth $1,041,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVS. Pzena Investment Management LLC lifted its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Capital International Investors increased its position in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares during the period. Capital World Investors increased its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the period. State of Michigan Retirement System increased its position in CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares during the period. Finally, Swedbank AB acquired a new stake in CVS Health in the first quarter worth $110,816,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Trading Down 3.6 %

Shares of NYSE CVS opened at $65.01 on Wednesday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The firm has a market capitalization of $81.61 billion, a PE ratio of 11.43, a PEG ratio of 0.93 and a beta of 0.54. 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 has a 50-day moving average price of $59.45 and a two-hundred day moving average price of $60.70.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the company posted $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.09%. CVS Health’s dividend payout ratio is 46.75%.

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.