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

First Western Trust Bank cut its position in shares of CVS Health Co. (NYSE:CVS) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the last quarter. Cullinan Associates Inc. boosted its position in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C bought a new position in CVS Health in the 2nd quarter valued at $57,584,000. Oppenheimer Asset Management Inc. boosted its position in CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares during the period. Finally, CX Institutional grew its stake in CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $53.19 on Monday. The company has a fifty day simple moving average of $59.23 and a 200-day simple moving average of $58.60. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $66.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.92 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.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 5.00%. CVS Health’s payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVS shares. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. Finally, UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $72.78.

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.