Community Bank N.A. Increases Position in CVS Health Co. (NYSE:CVS)

Community Bank N.A. grew its stake in CVS Health Co. (NYSE:CVS) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,201 shares of the pharmacy operator’s stock after acquiring an additional 235 shares during the quarter. Community Bank N.A.’s holdings in CVS Health were worth $3,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atticus Wealth Management LLC increased its holdings in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC grew its stake in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Coston McIsaac & Partners grew its stake in CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in CVS Health during the 4th quarter worth $50,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research analyst reports. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. SVB Leerink initiated coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 target price on the stock. Wells Fargo & Company dropped their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. Finally, Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS stock traded down $0.74 on Wednesday, hitting $67.76. The company had a trading volume of 8,650,023 shares, compared to its average volume of 10,731,002. The firm has a market cap of $85.41 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a 50-day moving average price of $74.80 and a 200-day moving average price of $73.72. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, equities research analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.93%. CVS Health’s payout ratio is 41.18%.

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.