CVS Health Corporation (NYSE:CVS) Stock Position Decreased by First American Trust FSB

Key Points

• First American Trust FSB reduced its holdings in CVS Health Corporation by 53.4%, selling 6,021 shares and now owning 5,252 shares valued at approximately $356,000.
• CVS Health's quarterly earnings report showed earnings per share of $1.81, exceeding estimates by $0.35, with revenues reaching $98.92 billion during the quarter.
• The company declared a quarterly dividend of $0.665 per share, resulting in an annualized dividend yield of 4.1% and a payout ratio of 74.30%.

First American Trust FSB cut its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 53.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,252 shares of the pharmacy operator's stock after selling 6,021 shares during the period. First American Trust FSB's holdings in CVS Health were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVS. Essex Financial Services Inc. increased its position in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares during the period. Hemington Wealth Management increased its position in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares during the period. McIlrath & Eck LLC increased its position in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the period. Sumitomo Life Insurance Co. increased its position in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. increased its position in CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after buying an additional 178 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVS shares. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Barclays increased their price target on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. 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. Finally, Morgan Stanley increased their price target on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Buy" and a consensus price target of $75.68.

CVS Health Trading Up 3.2%

Shares of NYSE:CVS traded up $2.13 during midday trading on Friday, reaching $68.86. The company had a trading volume of 4,023,499 shares, compared to its average volume of 9,910,333. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a market cap of $87.34 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 0.73 and a beta of 0.58. The company has a fifty day simple moving average of $64.86 and a two-hundred day simple moving average of $64.54.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the company posted $1.83 EPS. CVS Health's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 74.30%.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase 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.

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.