First Citizens Bank & Trust Co. Has $4.36 Million Holdings in CVS Health Co. (NYSE:CVS)

First Citizens Bank & Trust Co. trimmed its position in CVS Health Co. (NYSE:CVS) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,320 shares of the pharmacy operator’s stock after selling 424 shares during the period. First Citizens Bank & Trust Co.’s holdings in CVS Health were worth $4,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of CVS Health by 6.2% in the third quarter. Blue Trust Inc. now owns 9,673 shares of the pharmacy operator’s stock valued at $571,000 after purchasing an additional 562 shares during the last quarter. Capital Investment Advisors LLC increased its stake in CVS Health by 17.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 504,499 shares of the pharmacy operator’s stock valued at $31,723,000 after buying an additional 73,269 shares during the last quarter. Richard W. Paul & Associates LLC lifted its position in CVS Health by 5.1% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 15,222 shares of the pharmacy operator’s stock worth $957,000 after buying an additional 733 shares in the last quarter. OmniStar Financial Group Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $709,000. Finally, Aaron Wealth Advisors LLC increased its position in shares of CVS Health by 23.6% in the third quarter. Aaron Wealth Advisors LLC now owns 12,816 shares of the pharmacy operator’s stock valued at $806,000 after acquiring an additional 2,450 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

NYSE CVS opened at $60.35 on Friday. The firm has a 50-day moving average price of $59.80 and a two-hundred day moving average price of $60.62. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a market capitalization of $75.76 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. Analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Truist Financial increased their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $63.00 to $82.00 in a research note on Thursday, October 10th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.26.

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.