Atlantic Union Bankshares Corp Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Atlantic Union Bankshares Corp cut its holdings in CVS Health Co. (NYSE:CVS) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,649 shares of the pharmacy operator’s stock after selling 8,125 shares during the period. Atlantic Union Bankshares Corp’s holdings in CVS Health were worth $5,071,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the third quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in CVS Health in the third quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the third quarter worth approximately $32,000. First Community Trust NA raised its position in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in CVS Health in the third quarter worth approximately $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $59.96 on Friday. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The stock has a market capitalization of $75.45 billion, a P/E ratio of 15.22, a PEG ratio of 1.02 and a beta of 0.55. The firm has a fifty day simple moving average of $59.33 and a two-hundred day simple moving average of $58.73. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 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 business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the company posted $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial restated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. Finally, UBS Group raised 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

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.