Norway Savings Bank Has $371,000 Stock Position in CVS Health Co. (NYSE:CVS)

Norway Savings Bank decreased its holdings in CVS Health Co. (NYSE:CVS) by 52.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,263 shares of the pharmacy operator’s stock after selling 8,934 shares during the quarter. Norway Savings Bank’s holdings in CVS Health were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC acquired a new position in CVS Health in the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter worth about $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS Health stock traded down $0.17 during mid-day trading on Tuesday, reaching $45.65. 6,554,313 shares of the company’s stock were exchanged, compared to its average volume of 11,372,705. CVS Health Co. has a one year low of $43.56 and a one year high of $83.25. The firm has a market capitalization of $57.45 billion, a PE ratio of 11.59, a P/E/G ratio of 0.85 and a beta of 0.59. The business’s fifty day simple moving average is $52.63 and its 200 day simple moving average is $56.97. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued 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 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 analyst estimates of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CVS shares. Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

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.