First County Bank CT Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

First County Bank CT decreased its stake in CVS Health Co. (NYSE:CVS) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,027 shares of the pharmacy operator’s stock after selling 545 shares during the quarter. First County Bank CT’s holdings in CVS Health were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Pzena Investment Management LLC increased its position in CVS Health by 132.9% in 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 in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the period. State of Michigan Retirement System boosted 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 worth $118,455,000 after acquiring an additional 1,606,500 shares during the period. Swedbank AB bought a new position in shares of CVS Health in the first quarter worth about $110,816,000. Finally, AQR Capital Management LLC boosted its stake in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.6 %

CVS opened at $58.01 on Friday. The stock’s fifty day moving average is $59.21 and its two-hundred day moving average is $58.59. The company has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research note on Wednesday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.28.

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.