CVS Health Co. (NYSE:CVS) Position Trimmed by Bangor Savings Bank

Bangor Savings Bank lowered its stake in CVS Health Co. (NYSE:CVS) by 35.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 905 shares of the pharmacy operator’s stock after selling 489 shares during the period. Bangor Savings Bank’s holdings in CVS Health were worth $41,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the third quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the third quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Truist Financial reduced their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. Finally, UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Price Performance

Shares of CVS opened at $45.83 on Wednesday. The company has a 50 day moving average of $52.40 and a 200-day moving average of $56.86. 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 stock has a market capitalization of $57.67 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.85 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.80%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.