Tompkins Financial Corp Sells 2,500 Shares of CVS Health Co. (NYSE:CVS)

Tompkins Financial Corp cut its stake in CVS Health Co. (NYSE:CVS) by 36.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,338 shares of the pharmacy operator’s stock after selling 2,500 shares during the quarter. Tompkins Financial Corp’s holdings in CVS Health were worth $195,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Sterling Financial Group Inc. increased its stake in CVS Health by 16.4% during the 4th quarter. Sterling Financial Group Inc. now owns 15,363 shares of the pharmacy operator’s stock worth $690,000 after purchasing an additional 2,169 shares in the last quarter. Empirical Asset Management LLC boosted its holdings in shares of CVS Health by 816.4% in the fourth quarter. Empirical Asset Management LLC now owns 36,885 shares of the pharmacy operator’s stock valued at $1,656,000 after buying an additional 32,860 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its position in shares of CVS Health by 38.7% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,168 shares of the pharmacy operator’s stock worth $52,000 after acquiring an additional 326 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of CVS Health by 16.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,101 shares of the pharmacy operator’s stock worth $409,000 after acquiring an additional 1,296 shares during the period. Finally, Park Avenue Securities LLC lifted its position in CVS Health by 5.8% in the 4th quarter. Park Avenue Securities LLC now owns 24,646 shares of the pharmacy operator’s stock valued at $1,106,000 after acquiring an additional 1,359 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS Health stock opened at $52.01 on Friday. The company has a 50 day moving average of $51.49 and a 200-day moving average of $56.39. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market cap of $65.44 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.11%. CVS Health’s payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial decreased their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, UBS Group boosted their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

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.