Canandaigua National Bank & Trust Co. Sells 7,127 Shares of CVS Health Co. (NYSE:CVS)

Canandaigua National Bank & Trust Co. lowered its holdings in CVS Health Co. (NYSE:CVS) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,599 shares of the pharmacy operator’s stock after selling 7,127 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in CVS Health were worth $1,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Assetmark Inc. raised its position in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. grew its holdings in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. raised its position in CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. boosted its position in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial dropped their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Finally, UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Up 0.1 %

Shares of CVS Health stock traded up $0.05 during midday trading on Monday, hitting $45.82. The company had a trading volume of 16,446,202 shares, compared to its average volume of 11,902,997. The company has a 50 day moving average of $52.84 and a 200 day moving average of $57.08. The stock has a market capitalization of $57.66 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.85 and a beta of 0.54. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced 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. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, equities analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.81%. CVS Health’s payout ratio is currently 67.51%.

CVS Health 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.