Stock Yards Bank & Trust Co. Has $2.78 Million Holdings in CVS Health Co. (NYSE:CVS)

Stock Yards Bank & Trust Co. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 34.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,166 shares of the pharmacy operator’s stock after selling 23,609 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CVS Health were worth $2,777,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter valued at about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the 3rd quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter valued at about $33,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Stock Performance

Shares of CVS stock opened at $49.59 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $49.47 and a 52 week high of $83.25. The company’s 50 day moving average price is $58.86 and its two-hundred day moving average price is $58.75. The company has a market capitalization of $62.40 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

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.