Trust Co. of Vermont Trims Stake in CVS Health Co. (NYSE:CVS)

Trust Co. of Vermont reduced its position in shares of CVS Health Co. (NYSE:CVS) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,368 shares of the pharmacy operator’s stock after selling 24,703 shares during the quarter. Trust Co. of Vermont’s holdings in CVS Health were worth $6,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Secure Asset Management LLC increased its holdings in shares of CVS Health by 38.4% in the 3rd quarter. Secure Asset Management LLC now owns 29,247 shares of the pharmacy operator’s stock valued at $1,839,000 after acquiring an additional 8,121 shares during the period. nVerses Capital LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at $101,000. LaFleur & Godfrey LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at $203,000. Sumitomo Life Insurance Co. boosted its position in shares of CVS Health by 3.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,692 shares of the pharmacy operator’s stock worth $1,112,000 after purchasing an additional 516 shares in the last quarter. Finally, Sunpointe LLC boosted its position in shares of CVS Health by 14.1% in the 3rd quarter. Sunpointe LLC now owns 4,244 shares of the pharmacy operator’s stock worth $267,000 after purchasing an additional 524 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $63.67 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The business has a 50-day moving average price of $59.73 and a 200 day moving average price of $60.75. The firm has a market cap of $79.93 billion, a PE ratio of 11.19, a P/E/G ratio of 0.93 and a beta of 0.54.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company raised their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

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.