Old North State Trust LLC Buys Shares of 3,184 CVS Health Co. (NYSE:CVS)

Old North State Trust LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,184 shares of the pharmacy operator’s stock, valued at approximately $200,000.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in CVS Health in the 3rd quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE:CVS opened at $49.59 on Friday. The stock’s 50 day moving average is $58.61 and its 200-day moving average is $58.68. CVS Health Co. has a twelve month low of $49.47 and a twelve month 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 $62.40 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group boosted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.