Park National Corp OH Sells 9,773 Shares of CVS Health Co. (NYSE:CVS)

Park National Corp OH reduced its position in shares of CVS Health Co. (NYSE:CVS) by 4.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,852 shares of the pharmacy operator’s stock after selling 9,773 shares during the quarter. Park National Corp OH’s holdings in CVS Health were worth $10,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in CVS Health by 51.6% in the 2nd quarter. Ballentine Partners LLC now owns 12,459 shares of the pharmacy operator’s stock worth $736,000 after buying an additional 4,238 shares during the period. Choreo LLC lifted its stake in CVS Health by 294.6% in the second quarter. Choreo LLC now owns 63,830 shares of the pharmacy operator’s stock worth $3,714,000 after acquiring an additional 47,655 shares during the period. Royal London Asset Management Ltd. boosted its holdings in CVS Health by 0.4% in the second quarter. Royal London Asset Management Ltd. now owns 499,428 shares of the pharmacy operator’s stock valued at $29,496,000 after acquiring an additional 2,176 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in CVS Health by 8.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 136,810 shares of the pharmacy operator’s stock worth $8,080,000 after purchasing an additional 10,560 shares in the last quarter. Finally, Van Hulzen Asset Management LLC lifted its position in shares of CVS Health by 10.8% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 6,231 shares of the pharmacy operator’s stock worth $368,000 after purchasing an additional 606 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Truist Financial decreased their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

Shares of CVS opened at $45.83 on Wednesday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $83.25. The business’s fifty day simple moving average is $52.40 and its two-hundred day simple moving average is $56.86. 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 company has a market cap of $57.67 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate 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 return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. Research analysts anticipate that CVS Health Co. will post 5.32 earnings per share 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. Investors 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%.

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.