Sanibel Captiva Trust Company Inc. Trims Position in CVS Health Co. (NYSE:CVS)

Sanibel Captiva Trust Company Inc. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 34.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,733 shares of the pharmacy operator’s stock after selling 30,377 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CVS Health were worth $3,693,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CVS. Deerfield Management Company L.P. Series C purchased a new position in shares of CVS Health in the 2nd quarter worth $57,584,000. Susquehanna Fundamental Investments LLC raised its position in shares of CVS Health by 27.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares during the period. Steph & Co. raised its position in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Douglas Lane & Associates LLC raised its position in shares of CVS Health by 1.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the period. Finally, First Hawaiian Bank raised its position in shares of CVS Health by 30.1% in the 2nd quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after buying an additional 23,213 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.3 %

NYSE:CVS opened at $66.85 on Friday. The company has a market capitalization of $84.10 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a 50-day simple moving average of $58.84 and a 200 day simple moving average of $61.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the company posted $2.21 earnings per share. CVS Health’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 3.98%. CVS Health’s dividend payout ratio is currently 47.33%.

Wall Street Analyst Weigh In

CVS has been the topic of several research reports. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $63.00 to $82.00 in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.74.

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.