CVS Health Co. (NYSE:CVS) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department decreased its position in shares of CVS Health Co. (NYSE:CVS) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,144 shares of the pharmacy operator’s stock after selling 1,090 shares during the period. Mechanics Bank Trust Department’s holdings in CVS Health were worth $276,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVS shares. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial decreased their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 1.5 %

CVS Health stock opened at $52.72 on Tuesday. The stock has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.72 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $51.34 and a two-hundred day moving average of $56.32. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last announced 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. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

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 given a $0.665 dividend. The ex-dividend date 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%.

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.