Fiduciary Trust Co Purchases 375 Shares of CVS Health Co. (NYSE:CVS)

Fiduciary Trust Co increased its position in CVS Health Co. (NYSE:CVS) by 0.3% in the third quarter, HoldingsChannel reports. The firm owned 108,151 shares of the pharmacy operator’s stock after purchasing an additional 375 shares during the quarter. Fiduciary Trust Co’s holdings in CVS Health were worth $6,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CVS Health by 3.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock worth $16,424,000 after acquiring an additional 9,418 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of CVS Health during the third quarter valued at approximately $40,000. Thematics Asset Management boosted its position in shares of CVS Health by 1.9% in the 3rd quarter. Thematics Asset Management now owns 57,376 shares of the pharmacy operator’s stock worth $3,608,000 after purchasing an additional 1,064 shares in the last quarter. Avestar Capital LLC bought a new position in CVS Health during the 3rd quarter valued at approximately $326,000. Finally, Quantbot Technologies LP purchased a new position in CVS Health during the third quarter valued at $6,902,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock opened at $59.96 on Friday. The company has a fifty day simple moving average of $59.33 and a two-hundred day simple moving average of $58.73. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $75.45 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.02 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. Analysts anticipate that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.