Country Trust Bank Has $104,000 Holdings in CVS Health Co. (NYSE:CVS)

Country Trust Bank lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 99.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,312 shares of the pharmacy operator’s stock after selling 381,027 shares during the period. Country Trust Bank’s holdings in CVS Health were worth $104,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new position in CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter valued at about $32,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler cut their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Stock Performance

CVS stock opened at $56.84 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $51.27 and a 200-day moving average price of $56.17. The firm has a market cap of $71.53 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 5.18 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.68%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 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.