Cadence Bank Has $350,000 Stock Position in CVS Health Co. (NYSE:CVS)

Cadence Bank lessened its stake in CVS Health Co. (NYSE:CVS) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,568 shares of the pharmacy operator’s stock after selling 630 shares during the quarter. Cadence Bank’s holdings in CVS Health were worth $350,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the 3rd quarter valued at approximately $33,000. Finally, First Community Trust NA grew its stake in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Truist Financial reissued a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Up 1.6 %

Shares of CVS opened at $59.96 on Thursday. The firm’s 50-day simple moving average is $59.30 and its 200 day simple moving average is $58.72. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $75.45 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. On average, analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. CVS Health’s payout ratio 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.