First Western Trust Bank Makes New Investment in CVS Health Co. (NYSE:CVS)

First Western Trust Bank purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,767 shares of the pharmacy operator’s stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Atticus Wealth Management LLC increased its holdings in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC raised its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the period. Coston McIsaac & Partners boosted its position in shares of CVS Health by 42.6% in the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares during the period. Finally, Advantage Trust Co purchased a new position in CVS Health in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday. Mizuho lowered their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

CVS Health Price Performance

CVS traded up $0.76 on Thursday, reaching $55.67. The stock had a trading volume of 10,298,162 shares, compared to its average volume of 11,874,933. The firm has a 50-day moving average of $71.54 and a 200-day moving average of $72.96. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $69.89 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

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.