CNB Bank Has $46,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC grew its holdings 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 purchasing an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the third quarter valued at about $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the third quarter worth about $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 1.5 %

Shares of NYSE CVS opened at $52.72 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company’s 50 day moving average price is $51.39 and its 200-day moving average price is $56.36. The company has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company posted $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current 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 paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. CVS Health’s dividend payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Truist Financial lowered their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Company 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.