CVS Health Co. (NYSE:CVS) Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH reduced its position in CVS Health Co. (NYSE:CVS) by 8.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 35,914 shares of the pharmacy operator’s stock after selling 3,528 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in CVS Health were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the period. Hexagon Capital Partners LLC increased its position in CVS Health by 3.5% in the 3rd 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 period. Bruce G. Allen Investments LLC raised its stake in CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares during the last quarter. Integrated Advisors Network LLC grew its stake in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. raised its stake in shares of CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS Health stock traded up $2.86 during mid-day trading on Monday, hitting $50.87. 8,303,789 shares of the company were exchanged, compared to its average volume of 12,486,032. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The business’s 50 day simple moving average is $51.82 and its two-hundred day simple moving average is $56.55. The company has a market capitalization of $64.02 billion, a P/E ratio of 12.91, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. Analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.23%. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group raised their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.71.

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.