CVS Health Co. (NYSE:CVS) Shares Sold by Park National Corp OH

Park National Corp OH cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,210 shares of the pharmacy operator's stock after selling 27,642 shares during the quarter. Park National Corp OH's holdings in CVS Health were worth $13,903,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in 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 position in shares of CVS Health in the fourth quarter worth about $29,000. McIlrath & Eck LLC raised its position in shares of 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 acquiring an additional 174 shares during the period. Financial Perspectives Inc raised its holdings in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. raised its holdings in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVS shares. Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada increased their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.94.

CVS Health Trading Up 1.9%

Shares of NYSE CVS traded up $1.21 during midday trading on Friday, reaching $63.99. 13,306,917 shares of the stock were exchanged, compared to its average volume of 11,257,952. The company has a 50 day simple moving average of $65.62 and a 200 day simple moving average of $59.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $80.95 billion, a P/E ratio of 17.48, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51.

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

CVS Health Dividend Announcement

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

Insider Activity at CVS Health

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

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.