Farmers Trust Co. Acquires 4,096 Shares of CVS Health Co. (NYSE:CVS)

Farmers Trust Co. lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,718 shares of the pharmacy operator's stock after purchasing an additional 4,096 shares during the quarter. Farmers Trust Co.'s holdings in CVS Health were worth $5,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter worth about $29,000. McIlrath & Eck LLC boosted its position in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the period. Financial Perspectives Inc boosted its position in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the period. Finally, Compass Planning Associates Inc acquired a new stake in CVS Health during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded up $1.21 during trading hours on Friday, reaching $63.99. 13,306,917 shares of the company's stock were exchanged, compared to its average volume of 11,213,338. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market capitalization of $80.95 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.98 and a beta of 0.60. The business has a fifty day moving average price of $65.62 and a 200-day moving average price of $59.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.16%. CVS Health's payout ratio is 63.48%.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVS. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group raised their price objective on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.94.

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.