CVS Health Co. (NYSE:CVS) Shares Sold by Bangor Savings Bank

Bangor Savings Bank decreased its position in CVS Health Co. (NYSE:CVS) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,394 shares of the pharmacy operator’s stock after selling 264 shares during the quarter. Bangor Savings Bank’s holdings in CVS Health were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CVS. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health in the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of CVS Health in the 4th quarter valued at about $36,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of CVS Health during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Evercore ISI upped their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.05.

CVS Health Stock Performance

Shares of CVS opened at $65.88 on Wednesday. The company has a market capitalization of $82.70 billion, a PE ratio of 11.58, a P/E/G ratio of 0.81 and a beta of 0.54. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a 50-day simple moving average of $58.67 and a 200-day simple moving average of $61.25. The company has a quick ratio of 0.66, a current ratio of 0.86 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. Equities research analysts predict that CVS Health Co. will post 6.51 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 Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.