Wesbanco Bank Inc. Cuts Stake in CVS Health Co. (NYSE:CVS)

Wesbanco Bank Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 66.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,297 shares of the pharmacy operator’s stock after selling 111,264 shares during the quarter. Wesbanco Bank Inc.’s holdings in CVS Health were worth $2,482,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVS. Sound Income Strategies LLC boosted its stake in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares during the period. Integrated Advisors Network LLC boosted its holdings in shares of CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after acquiring an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. raised its holdings in shares of CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.7 %

Shares of CVS opened at $53.87 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $67.79 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The stock has a fifty day simple moving average of $51.23 and a two-hundred day simple moving average of $56.24.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.