First Citizens Bank & Trust Co. Reduces Stock Position in CVS Health Corp (NYSE:CVS)

First Citizens Bank & Trust Co. lessened its position in shares of CVS Health Corp (NYSE:CVS) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,169 shares of the pharmacy operator’s stock after selling 2,413 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CVS Health were worth $1,878,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hoover Financial Advisors Inc. purchased a new stake in CVS Health during the 2nd quarter valued at about $32,000. Exchange Traded Concepts LLC purchased a new stake in CVS Health during the 2nd quarter valued at about $41,000. Keebeck Wealth Management LLC purchased a new stake in CVS Health during the 2nd quarter valued at about $42,000. Campbell Wealth Management purchased a new stake in CVS Health during the 2nd quarter valued at about $49,000. Finally, Balentine LLC purchased a new stake in CVS Health during the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Several equities analysts have recently issued reports on the company. Piper Sandler assumed coverage on CVS Health in a report on Thursday, September 17th. They issued an “overweight” rating and a $72.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, August 6th. SVB Leerink boosted their price objective on CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Royal Bank of Canada reissued a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. Finally, Credit Suisse Group boosted their price objective on CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $81.94.

NYSE CVS opened at $59.59 on Friday. The stock has a market capitalization of $77.99 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.48 and a beta of 0.68. CVS Health Corp has a twelve month low of $52.04 and a twelve month high of $77.03. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $59.23 and a 200 day moving average of $62.28.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.71. CVS Health had a return on equity of 16.32% and a net margin of 3.13%. The business had revenue of $65.30 billion during the quarter, compared to analysts’ expectations of $64.29 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that CVS Health Corp will post 7.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.36%. CVS Health’s payout ratio is currently 28.25%.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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