Kennebec Savings Bank Buys New Stake in CVS Health Co. (NYSE:CVS)

Kennebec Savings Bank purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 810 shares of the pharmacy operator’s stock, valued at approximately $51,000.

A number of other hedge funds have also bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA increased its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the third quarter worth $33,000. Finally, ORG Partners LLC increased its stake in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVS. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Stock Up 0.5 %

CVS opened at $55.81 on Tuesday. The firm has a 50 day moving average price of $59.56 and a 200 day moving average price of $59.06. The company has a market cap of $70.23 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. 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 (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 5.63 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

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.