CVS Health Co. (NYSE:CVS) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lessened its stake in CVS Health Co. (NYSE:CVS) by 5.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,674 shares of the pharmacy operator’s stock after selling 453 shares during the quarter. Independence Bank of Kentucky’s holdings in CVS Health were worth $520,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC raised its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Financial Perspectives Inc raised its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after acquiring an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on CVS shares. Argus set a $77.00 price objective on CVS Health in a research note on Tuesday, February 18th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Barclays set a $79.00 price target on shares of CVS Health and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $74.75.

CVS Health Stock Performance

NYSE CVS opened at $63.61 on Friday. The stock has a fifty day simple moving average of $65.21 and a 200-day simple moving average of $59.92. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market cap of $80.47 billion, a PE ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. Equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio is presently 63.48%.

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.