Cadence Bank Has $350,000 Position in CVS Health Co. (NYSE:CVS)

Cadence Bank trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 10.2% in the third quarter, HoldingsChannel.com reports. The fund owned 5,568 shares of the pharmacy operator’s stock after selling 630 shares during the quarter. Cadence Bank’s holdings in CVS Health were worth $350,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of CVS Health by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock worth $14,143,000 after acquiring an additional 4,318 shares during the period. Atria Investments Inc boosted its holdings in shares of CVS Health by 1.3% in the 1st quarter. Atria Investments Inc now owns 97,348 shares of the pharmacy operator’s stock valued at $7,764,000 after purchasing an additional 1,292 shares in the last quarter. Community Trust & Investment Co. increased its stake in shares of CVS Health by 1.3% in the 1st quarter. Community Trust & Investment Co. now owns 255,849 shares of the pharmacy operator’s stock valued at $20,407,000 after purchasing an additional 3,325 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of CVS Health by 190.9% during the 1st quarter. Cetera Investment Advisers now owns 407,844 shares of the pharmacy operator’s stock worth $32,530,000 after buying an additional 267,664 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in CVS Health by 13.3% in the first quarter. Cetera Advisors LLC now owns 123,884 shares of the pharmacy operator’s stock valued at $9,881,000 after buying an additional 14,551 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Truist Financial reissued a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Trading Up 1.6 %

NYSE:CVS opened at $59.96 on Thursday. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm’s fifty day moving average is $59.30 and its 200-day moving average is $58.72. The firm has a market cap of $75.45 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 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 business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

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

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.