First County Bank CT Decreases Stake in CVS Health Co. (NYSE:CVS)

First County Bank CT reduced its stake in CVS Health Co. (NYSE:CVS) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,027 shares of the pharmacy operator’s stock after selling 545 shares during the period. First County Bank CT’s holdings in CVS Health were worth $253,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Assetmark Inc. increased its stake in 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 purchasing an additional 36,132 shares during the period. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in CVS Health in the 2nd quarter worth approximately $57,584,000. Oppenheimer Asset Management Inc. increased its stake 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 worth $28,191,000 after purchasing an additional 24,285 shares during the period. Finally, CX Institutional increased its stake in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after buying an additional 65,259 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. Barclays reduced 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. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Truist Financial reissued a “buy” rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $72.28.

CVS Health Stock Up 1.6 %

CVS stock opened at $58.01 on Friday. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The business has a fifty day moving average price of $59.21 and a 200-day moving average price of $58.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.96 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted 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. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. Equities analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

CVS Health 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.