Somerset Trust Co Makes New $280,000 Investment in CVS Health Co. (NYSE:CVS)

Somerset Trust Co acquired a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,130 shares of the pharmacy operator's stock, valued at approximately $280,000.

A number of other hedge funds have also recently modified their holdings of CVS. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the 4th quarter worth $29,000. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc increased 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 buying an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. raised its position 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 buying an additional 437 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred 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 sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Price Performance

NYSE CVS traded up $0.02 during trading hours on Tuesday, reaching $63.62. The company's stock had a trading volume of 6,453,352 shares, compared to its average volume of 11,176,292. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $80.48 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.60. The firm's 50-day moving average price is $65.54 and its 200-day moving average price is $59.74.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. CVS Health's dividend payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Mizuho boosted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada upped their price target 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. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.75.

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.