Farmers Trust Co. Purchases 5,634 Shares of CVS Health Co. (NYSE:CVS)

Farmers Trust Co. boosted its position in shares of CVS Health Co. (NYSE:CVS) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,493 shares of the pharmacy operator’s stock after purchasing an additional 5,634 shares during the period. Farmers Trust Co.’s holdings in CVS Health were worth $4,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its stake in shares of CVS Health by 0.8% during the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 146 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of CVS Health by 0.7% in the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after purchasing an additional 150 shares during the last quarter. Garland Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares during the period. Silverlake Wealth Management LLC grew its holdings in CVS Health by 1.6% during the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after acquiring an additional 173 shares in the last quarter. Finally, Plimoth Trust Co. LLC increased its position in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.1 %

Shares of NYSE CVS opened at $62.92 on Friday. The stock has a fifty day simple moving average of $58.52 and a 200-day simple moving average of $61.67. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a market capitalization of $78.99 billion, a PE ratio of 11.06, a PEG ratio of 0.81 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. On average, equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. CVS Health’s payout ratio is currently 46.75%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. Evercore ISI dropped their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Company 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.