Norway Savings Bank Has $371,000 Position in CVS Health Co. (NYSE:CVS)

Norway Savings Bank trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 52.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,263 shares of the pharmacy operator’s stock after selling 8,934 shares during the period. Norway Savings Bank’s holdings in CVS Health were worth $371,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health in the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the third quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth about $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS stock traded down $0.17 during trading hours on Tuesday, hitting $45.65. 6,554,313 shares of the stock were exchanged, compared to its average volume of 11,372,705. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $52.63 and a two-hundred day simple moving average of $56.97. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $83.25. The firm has a market capitalization of $57.45 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. On average, analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVS. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.71.

CVS Health 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.