First Western Trust Bank Has $314,000 Position in CVS Health Corporation (NYSE:CVS)

First Western Trust Bank cut its position in CVS Health Corporation (NYSE:CVS) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,640 shares of the pharmacy operator’s stock after selling 231 shares during the quarter. First Western Trust Bank’s holdings in CVS Health were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. FIL Ltd increased its position in CVS Health by 5.3% during the 4th quarter. FIL Ltd now owns 141,616 shares of the pharmacy operator’s stock worth $6,357,000 after purchasing an additional 7,143 shares in the last quarter. Bessemer Group Inc. increased its position in CVS Health by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 66,617 shares of the pharmacy operator’s stock worth $2,991,000 after purchasing an additional 429 shares in the last quarter. F M Investments LLC grew its holdings in CVS Health by 12.0% during the 4th quarter. F M Investments LLC now owns 28,542 shares of the pharmacy operator’s stock worth $1,281,000 after acquiring an additional 3,062 shares during the last quarter. Heritage Trust Co bought a new stake in CVS Health during the 4th quarter worth approximately $1,481,000. Finally, Quinn Opportunity Partners LLC grew its holdings in CVS Health by 22.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 484,850 shares of the pharmacy operator’s stock worth $21,765,000 after acquiring an additional 90,400 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVS shares. Royal Bank Of Canada boosted their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Morgan Stanley upped their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group upped their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.11.

CVS Health Stock Performance

CVS opened at $65.49 on Friday. The company’s fifty day moving average price is $64.68 and its two-hundred day moving average price is $64.23. The company has a market cap of $83.06 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.70 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.1%. CVS Health’s dividend payout ratio is presently 74.30%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

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.