Indiana Trust & Investment Management Co Sells 2,125 Shares of CVS Health Co. (NYSE:CVS)

Indiana Trust & Investment Management Co reduced its position in shares of CVS Health Co. (NYSE:CVS) by 71.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 834 shares of the pharmacy operator’s stock after selling 2,125 shares during the period. Indiana Trust & Investment Management Co’s holdings in CVS Health were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in shares of CVS Health in the fourth quarter valued at about $37,000. Wellington Management Group LLP raised its stake in shares of CVS Health by 33.2% in the fourth quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock worth $17,295,000 after acquiring an additional 54,616 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of CVS Health during the fourth quarter worth approximately $36,000. Alaska Permanent Fund Corp increased its holdings in shares of CVS Health by 4.0% in the first quarter. Alaska Permanent Fund Corp now owns 34,278 shares of the pharmacy operator’s stock valued at $2,734,000 after purchasing an additional 1,329 shares in the last quarter. Finally, Wedmont Private Capital raised its position in CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after purchasing an additional 146 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.0 %

CVS Health stock opened at $65.01 on Thursday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average of $59.62 and a 200-day moving average of $60.73. The stock has a market capitalization of $81.61 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

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.