Stock Yards Bank & Trust Co. Increases Holdings in CVS Health Co. (NYSE:CVS)

Stock Yards Bank & Trust Co. increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,127 shares of the pharmacy operator’s stock after purchasing an additional 2,841 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CVS Health were worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC boosted its position in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the last quarter. ZRC Wealth Management LLC boosted its position in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Coston McIsaac & Partners boosted its position in CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in CVS Health in the 4th quarter valued at about $50,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $69.61 on Tuesday. The firm’s 50 day moving average is $75.13 and its two-hundred day moving average is $73.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The firm has a market capitalization of $87.74 billion, a P/E ratio of 10.78, a PEG ratio of 0.92 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the business earned $1.99 earnings per share. CVS Health’s revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Royal Bank of Canada cut their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

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.