Community Bank N.A. Has $1.37 Million Holdings in CVS Health Co. (NYSE:CVS)

Community Bank N.A. cut its holdings in CVS Health Co. (NYSE:CVS) by 21.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter valued at about $31,000. Finally, Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent research reports. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.39.

CVS Health Trading Down 2.1 %

Shares of CVS Health stock opened at $67.22 on Friday. 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 52 week low of $43.56 and a 52 week high of $80.75. The stock has a 50 day moving average price of $60.60 and a two-hundred day moving average price of $57.35. The stock has a market capitalization of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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, beating 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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business’s 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 completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.