NBT Bank N A NY Sells 1,097 Shares of CVS Health Co. (NYSE:CVS)

NBT Bank N A NY decreased its position in CVS Health Co. (NYSE:CVS) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,027 shares of the pharmacy operator’s stock after selling 1,097 shares during the quarter. NBT Bank N A NY’s holdings in CVS Health were worth $2,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. Canoe Financial LP grew its stake in shares of CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares during the last quarter. Steph & Co. increased its stake in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Forum Financial Management LP raised its position in shares of CVS Health by 19.4% during the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new position in CVS Health in the fourth quarter valued at about $151,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVS shares. Barclays dropped their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, August 19th. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Wells Fargo & Company upped their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.24.

CVS Health Price Performance

Shares of NYSE CVS opened at $57.24 on Friday. The company has a fifty day moving average price of $58.50 and a 200 day moving average price of $64.43. The firm has a market cap of $72.01 billion, a PE ratio of 10.06, a PEG ratio of 0.80 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. Research analysts predict that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.65%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.