Piscataqua Savings Bank Sells 15,231 Shares of CVS Health Co. (NYSE:CVS)

Piscataqua Savings Bank cut its position in shares of CVS Health Co. (NYSE:CVS) by 92.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,321 shares of the pharmacy operator’s stock after selling 15,231 shares during the period. Piscataqua Savings Bank’s holdings in CVS Health were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the 3rd quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.6 %

NYSE:CVS opened at $54.71 on Monday. The firm has a fifty day simple moving average of $51.24 and a 200-day simple moving average of $56.20. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. 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 capitalization of $68.84 billion, a P/E ratio of 13.88, a PEG ratio of 0.80 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 business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, equities research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from 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.