First Citizens Bank & Trust Co. Sells 55,611 Shares of CVS Health Co. (NYSE:CVS)

First Citizens Bank & Trust Co. lessened its position in CVS Health Co. (NYSE:CVS) by 80.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,709 shares of the pharmacy operator’s stock after selling 55,611 shares during the period. First Citizens Bank & Trust Co.’s holdings in CVS Health were worth $615,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the third quarter worth $32,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $56.20 on Tuesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.80 and a beta of 0.59. The firm’s 50-day simple moving average is $51.24 and its 200 day simple moving average is $56.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.73%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.12.

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.