Community Bank N.A. Sells 2,910 Shares of CVS Health Corporation (NYSE:CVS)

Community Bank N.A. reduced its stake in CVS Health Corporation (NYSE:CVS) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,631 shares of the pharmacy operator’s stock after selling 2,910 shares during the quarter. Community Bank N.A.’s holdings in CVS Health were worth $1,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of CVS Health by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 181,693 shares of the pharmacy operator’s stock worth $12,309,000 after buying an additional 4,225 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in CVS Health during the 1st quarter worth approximately $366,000. Dunhill Financial LLC grew its stake in shares of CVS Health by 147.2% during the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator’s stock worth $51,000 after acquiring an additional 446 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of CVS Health by 111.7% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 47,336 shares of the pharmacy operator’s stock worth $3,216,000 after acquiring an additional 24,975 shares in the last quarter. Finally, Optivise Advisory Services LLC bought a new stake in shares of CVS Health in the first quarter worth $268,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVS shares. Truist Financial raised their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Mizuho increased their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Barclays set a $79.00 price objective on CVS Health and gave the company an “overweight” rating in a report on Monday, June 2nd. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Argus set a $77.00 price target on CVS Health in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.75.

Insiders Place Their Bets

In other news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Down 0.9%

CVS stock opened at $67.13 on Wednesday. The business’s 50 day simple moving average is $65.09 and its 200 day simple moving average is $60.25. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a market capitalization of $84.92 billion, a PE ratio of 16.02, a PEG ratio of 0.97 and a beta of 0.56. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

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 the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

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.