CVS Health Co. (NYSE:CVS) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. cut its holdings in CVS Health Co. (NYSE:CVS) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,778 shares of the pharmacy operator’s stock after selling 1,494 shares during the quarter. Adirondack Trust Co.’s holdings in CVS Health were worth $439,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of CVS Health by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 28,801 shares of the pharmacy operator’s stock worth $1,293,000 after purchasing an additional 9,234 shares during the period. Perfromance Wealth Partners LLC acquired a new stake in shares of CVS Health in the 4th quarter worth $475,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of CVS Health by 17.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,089,654 shares of the pharmacy operator’s stock valued at $48,915,000 after acquiring an additional 163,148 shares in the last quarter. Ballentine Partners LLC raised its holdings in CVS Health by 17.5% during the fourth quarter. Ballentine Partners LLC now owns 5,314 shares of the pharmacy operator’s stock worth $239,000 after purchasing an additional 793 shares in the last quarter. Finally, LaFleur & Godfrey LLC lifted its position in CVS Health by 49.9% in the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock valued at $217,000 after purchasing an additional 1,610 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 0.2 %

Shares of CVS stock opened at $53.05 on Thursday. The company has a market capitalization of $66.76 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $51.23 and a 200 day moving average price of $56.24. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.01%. CVS Health’s payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVS. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.71.

About CVS Health

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.