First Western Trust Bank Lowers Holdings in CVS Health Co. (NYSE:CVS)

First Western Trust Bank lessened its holdings in CVS Health Co. (NYSE:CVS) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,915 shares of the pharmacy operator’s stock after selling 430 shares during the period. First Western Trust Bank’s holdings in CVS Health were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Pzena Investment Management LLC boosted its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the period. Capital International Investors increased its holdings in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors raised its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after buying an additional 1,606,500 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS opened at $53.19 on Monday. The company’s 50 day simple moving average is $59.23 and its 200-day simple moving average is $58.60. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The firm has a market cap of $66.93 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results 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. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. As a group, equities analysts predict that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVS shares. Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $72.78.

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.