Park National Corp OH Sells 27,642 Shares of CVS Health Co. (NYSE:CVS)

Park National Corp OH lowered its position in CVS Health Co. (NYSE:CVS) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,210 shares of the pharmacy operator’s stock after selling 27,642 shares during the quarter. Park National Corp OH’s holdings in CVS Health were worth $13,903,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVS. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after acquiring an additional 437 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.7%

NYSE:CVS opened at $62.40 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $78.94 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.98 and a beta of 0.60. The company’s 50-day simple moving average is $65.76 and its 200-day simple moving average is $59.48. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVS shares. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Barclays boosted their price objective on shares of CVS Health from $73.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.94.

CVS Health 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.