Park National Corp OH Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Park National Corp OH lessened its holdings in CVS Health Co. (NYSE:CVS) by 4.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 232,852 shares of the pharmacy operator’s stock after selling 9,773 shares during the period. 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.

Several other large investors also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter valued at about $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the third quarter worth about $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS Health stock opened at $45.83 on Wednesday. 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 Co. has a twelve month low of $43.56 and a twelve month high of $83.25. The company’s 50-day moving average price is $52.40 and its 200-day moving average price is $56.86. The company has a market cap of $57.67 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 annualized dividend and a dividend yield of 5.80%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVS. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.71.

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.