Old North State Trust LLC Invests $200,000 in CVS Health Co. (NYSE:CVS)

Old North State Trust LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,184 shares of the pharmacy operator’s stock, valued at approximately $200,000.

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

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial restated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Down 4.2 %

CVS stock opened at $49.59 on Friday. CVS Health Co. has a 1-year low of $49.47 and a 1-year high of $83.25. The business’s 50 day simple moving average is $58.61 and its 200 day simple moving average is $58.68. 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 market capitalization of $62.40 billion, a PE ratio of 12.59, a PEG ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.