Adirondack Trust Co. Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Adirondack Trust Co. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 13.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,778 shares of the pharmacy operator’s stock after selling 1,494 shares during the period. Adirondack Trust Co.’s holdings in CVS Health were worth $439,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. State Street Corp raised its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health during the third quarter valued at approximately $121,987,000. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after acquiring an additional 1,327,855 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

CVS stock opened at $53.05 on Thursday. The stock’s 50 day simple moving average is $51.23 and its 200 day simple moving average is $56.24. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market cap of $66.76 billion, a P/E ratio of 13.46, a P/E/G 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.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 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.