OLD Point Trust & Financial Services N A Sells 250 Shares of CVS Health Co. (NYSE:CVS)

OLD Point Trust & Financial Services N A reduced its position in shares of CVS Health Co. (NYSE:CVS) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666 shares of the pharmacy operator’s stock after selling 250 shares during the period. OLD Point Trust & Financial Services N A’s holdings in CVS Health were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Pathstone Holdings LLC lifted its holdings in CVS Health by 2.0% during the third quarter. Pathstone Holdings LLC now owns 222,285 shares of the pharmacy operator’s stock worth $13,977,000 after acquiring an additional 4,432 shares during the period. OneAscent Financial Services LLC bought a new stake in shares of CVS Health during the 3rd quarter worth $309,000. Meeder Asset Management Inc. boosted its stake in CVS Health by 2,925.0% in the third quarter. Meeder Asset Management Inc. now owns 10,285 shares of the pharmacy operator’s stock valued at $647,000 after acquiring an additional 9,945 shares during the last quarter. Prospera Financial Services Inc grew its holdings in CVS Health by 5.8% during the third quarter. Prospera Financial Services Inc now owns 34,555 shares of the pharmacy operator’s stock valued at $2,174,000 after purchasing an additional 1,908 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in shares of CVS Health by 1.7% in the third quarter. Banque Cantonale Vaudoise now owns 36,545 shares of the pharmacy operator’s stock valued at $2,298,000 after buying an additional 602 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $67.84 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a market capitalization of $85.53 billion, a P/E ratio of 18.54, a PEG ratio of 0.98 and a beta of 0.54. The stock has a 50 day moving average price of $59.76 and a two-hundred day moving average price of $57.20.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research lifted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Truist Financial lifted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Four investment 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 stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Insider Buying and Selling at CVS Health

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

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.