Wesbanco Bank Inc. Sells 32,489 Shares of CVS Health Co. (NYSE:CVS)

Wesbanco Bank Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 16.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 166,561 shares of the pharmacy operator’s stock after selling 32,489 shares during the period. Wesbanco Bank Inc.’s holdings in CVS Health were worth $10,473,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. First Community Trust NA boosted its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the third quarter valued at about $33,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health in the fourth quarter valued at about $34,000. Steph & Co. increased its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Finally, ORG Partners LLC raised its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $67.46 on Tuesday. The company has a market capitalization of $84.69 billion, a PE ratio of 11.86, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $59.31 and a two-hundred day moving average price of $60.81. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. Analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVS. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Company 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.