Community Bank N.A. Sells 8,275 Shares of CVS Health Co. (NYSE:CVS)

Community Bank N.A. trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 21.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,541 shares of the pharmacy operator’s stock after selling 8,275 shares during the quarter. Community Bank N.A.’s holdings in CVS Health were worth $1,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Ridgewood Investments LLC increased its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter worth about $31,000. Finally, Financial Perspectives Inc increased its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 2.1 %

CVS opened at $67.22 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The firm has a market capitalization of $84.75 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. The business has a 50 day simple moving average of $60.60 and a two-hundred day simple moving average of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVS shares. Truist Financial upped their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Barclays upped their price objective on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $70.39.

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.