CVS Health Co. (NYSE:CVS) Shares Sold by City State Bank

City State Bank lessened its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,007 shares of the pharmacy operator’s stock after selling 1,100 shares during the quarter. City State Bank’s holdings in CVS Health were worth $373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVS. SRS Capital Advisors Inc. lifted its position in shares of CVS Health by 105.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock valued at $27,000 after acquiring an additional 146 shares during the period. Karp Capital Management Corp purchased a new position in CVS Health in the 3rd quarter valued at approximately $30,000. EWG Elevate Inc. acquired a new position in CVS Health during the fourth quarter worth $32,000. Coston McIsaac & Partners acquired a new stake in CVS Health in the second quarter valued at $34,000. Finally, Moisand Fitzgerald Tamayo LLC increased its position in shares of CVS Health by 63.6% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 77.29% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of CVS Health from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Wells Fargo & Company lowered their price target on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 3rd. StockNews.com initiated coverage on CVS Health in a research report on Thursday. They set a “buy” rating for the company. Barclays lowered their target price on CVS Health from $118.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, February 9th. Finally, Credit Suisse Group boosted their price target on CVS Health from $117.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.65.

CVS Health Trading Down 1.9 %

Shares of NYSE CVS traded down $1.46 on Friday, reaching $74.37. 16,807,803 shares of the company traded hands, compared to its average volume of 7,963,418. The company has a 50 day moving average of $85.40 and a 200 day moving average of $93.00. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.71. CVS Health Co. has a fifty-two week low of $73.91 and a fifty-two week high of $109.69. The stock has a market capitalization of $95.50 billion, a PE ratio of 23.84, a P/E/G ratio of 1.17 and a beta of 0.65.

CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. The company had revenue of $83.85 billion for the quarter, compared to the consensus estimate of $76.37 billion. During the same quarter last year, the firm posted $1.98 earnings per share. CVS Health’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Co. will post 8.84 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, April 21st will be paid a dividend of $0.605 per share. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $2.42 annualized dividend and a yield of 3.25%. CVS Health’s dividend payout ratio is presently 77.56%.

About CVS Health

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.