First National Trust Co Sells 4,441 Shares of CVS Health Corporation (NYSE:CVS)

Key Points

• First National Trust Co sold 4,441 shares of CVS Health, reducing its stake by 50.5% during the first quarter, leaving it with holdings worth $295,000.
• CVS Health recently announced a quarterly dividend of $0.665 per share, resulting in an annualized yield of 4.3%, with the dividend payout ratio set at 63.48%.
• Analyst ratings show a consensus of "Moderate Buy" on CVS Health, with a price target averaging $74.67, after several firms adjusted their ratings and price objectives.

First National Trust Co cut its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 50.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,357 shares of the pharmacy operator's stock after selling 4,441 shares during the period. First National Trust Co's holdings in CVS Health were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Whitebox Advisors LLC acquired a new position in CVS Health during the fourth quarter worth $249,000. Jennison Associates LLC increased its holdings in shares of CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVS Health by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of CVS Health in the fourth quarter valued at $121,742,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Trading Up 3.0%

NYSE CVS traded up $1.86 during trading on Tuesday, hitting $63.31. The company had a trading volume of 5,901,595 shares, compared to its average volume of 10,139,284. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a market cap of $80.09 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The company's fifty day moving average is $64.57 and its 200-day moving average is $64.08.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, sell-side 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 given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research reports. Barclays upped their price objective on shares of CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley upped their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Friday. Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada boosted their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $75.11.

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.