Community Trust & Investment Co. Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

Community Trust & Investment Co. boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 242,845 shares of the pharmacy operator’s stock after purchasing an additional 10,445 shares during the period. CVS Health makes up about 1.3% of Community Trust & Investment Co.’s portfolio, making the stock its 24th biggest position. Community Trust & Investment Co.’s holdings in CVS Health were worth $16,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Live Oak Investment Partners acquired a new position in shares of CVS Health in the 4th quarter valued at about $25,000. LifePro Asset Management purchased a new position in shares of CVS Health during the 2nd quarter valued at approximately $37,000. 25 LLC purchased a new position in CVS Health in the 1st quarter valued at about $39,000. Freedom Wealth Alliance LLC acquired a new stake in CVS Health in the 4th quarter worth about $40,000. Finally, Ahrens Investment Partners LLC acquired a new stake in shares of CVS Health in the first quarter worth approximately $45,000. 75.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVS. Raymond James dropped their price objective on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Truist Financial dropped their target price on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of CVS Health from $114.00 to $106.00 in a research note on Friday, July 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a report on Thursday, September 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $91.00 price target on shares of CVS Health in a research note on Friday, August 18th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.28.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.91 during mid-day trading on Tuesday, reaching $71.61. 2,352,141 shares of the company traded hands, compared to its average volume of 9,110,451. The stock has a fifty day simple moving average of $70.83 and a 200-day simple moving average of $71.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market cap of $91.98 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.34 and a beta of 0.63. CVS Health Co. has a fifty-two week low of $64.62 and a fifty-two week high of $104.83.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. CVS Health’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 8.61 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 21st were paid a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, July 20th. CVS Health’s dividend payout ratio (DPR) is currently 106.14%.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 25,759 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total value of $1,929,864.28. Following the completion of the sale, the senior vice president now directly owns 4,698 shares in the company, valued at approximately $351,974.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

CVS Health Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.