CNB Bank Boosts Holdings in CVS Health Co. (NYSE:CVS)

CNB Bank grew its position in shares of CVS Health Co. (NYSE:CVS) by 112.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,968 shares of the pharmacy operator’s stock after buying an additional 2,102 shares during the quarter. CNB Bank’s holdings in CVS Health were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Steph & Co. increased its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of CVS Health during the first quarter valued at $40,000. Retirement Group LLC increased its holdings in CVS Health by 54.3% in the 1st quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock worth $41,000 after buying an additional 182 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the 3rd quarter worth about $33,000. Finally, First Community Trust NA grew its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Stock Down 5.2 %

Shares of NYSE:CVS opened at $60.34 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The business has a 50 day simple moving average of $59.80 and a two-hundred day simple moving average of $60.53. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a market capitalization of $75.75 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS 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 company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the company posted $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.41%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

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.