CNB Bank Sells 2,953 Shares of CVS Health Co. (NYSE:CVS)

CNB Bank trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 74.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,015 shares of the pharmacy operator’s stock after selling 2,953 shares during the period. CNB Bank’s holdings in CVS Health were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC acquired a new stake in CVS Health in the third quarter worth $32,000. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CVS shares. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler lowered their target price 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

Shares of CVS stock opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a fifty day moving average price of $51.39 and a two-hundred day moving average price of $56.36. The stock has a market cap of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last released 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 return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.05%. CVS Health’s dividend payout ratio is currently 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.