Equitable Trust Co. Has $1.50 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Equitable Trust Co. reduced its position in CVS Health Co. (NYSE:CVS) by 17.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,885 shares of the pharmacy operator’s stock after selling 5,158 shares during the period. Equitable Trust Co.’s holdings in CVS Health were worth $1,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Garland Capital Management Inc. grew its position in CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC grew its position in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $55.54 on Friday. The company has a market capitalization of $69.87 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.66 and a current ratio of 0.80. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a 50-day simple moving average of $59.56 and a 200 day simple moving average of $59.19.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 6.18 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.