Community Trust & Investment Co. Has $18.02 Million Stock Position in CVS Health Co. (NYSE:CVS)

Community Trust & Investment Co. raised its stake in shares of CVS Health Co. (NYSE:CVS) by 14.4% during the first quarter, Holdings Channel reports. The firm owned 265,953 shares of the pharmacy operator’s stock after buying an additional 33,457 shares during the period. CVS Health comprises 1.2% of Community Trust & Investment Co.’s holdings, making the stock its 29th biggest holding. Community Trust & Investment Co.’s holdings in CVS Health were worth $18,018,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVS. LaFleur & Godfrey LLC raised its stake in shares of CVS Health by 49.9% in the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock valued at $217,000 after acquiring an additional 1,610 shares during the last quarter. Valeo Financial Advisors LLC raised its position in CVS Health by 1.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 28,957 shares of the pharmacy operator’s stock worth $1,300,000 after purchasing an additional 500 shares during the last quarter. ABC Arbitrage SA bought a new position in CVS Health in the 4th quarter worth approximately $1,191,000. Rhumbline Advisers raised its position in CVS Health by 1.3% in the 4th quarter. Rhumbline Advisers now owns 2,652,428 shares of the pharmacy operator’s stock worth $119,067,000 after purchasing an additional 35,026 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in CVS Health by 134.2% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 16,349 shares of the pharmacy operator’s stock worth $734,000 after purchasing an additional 9,368 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. UBS Group boosted their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Price Performance

CVS opened at $67.42 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $60.15. The stock has a market cap of $85.29 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.56.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.22% of the stock is owned by corporate insiders.

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.