Canandaigua National Bank & Trust Co. Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Canandaigua National Bank & Trust Co. trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 14.6% in the 4th quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC grew its holdings in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after acquiring an additional 162 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after purchasing an additional 195 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of CVS Health by 11.9% in the second quarter. HHM Wealth Advisors LLC now owns 1,886 shares of the pharmacy operator’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its position in CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS traded up $0.05 during trading hours on Monday, hitting $45.82. The company’s stock had a trading volume of 16,446,202 shares, compared to its average volume of 11,902,997. The business’s 50-day moving average price is $52.84 and its 200-day moving average price is $57.08. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $83.25. 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 stock has a market cap of $57.66 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. Sell-side analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial lowered their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen increased 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. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.71.

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.