Trustmark National Bank Trust Department Has $549,000 Holdings in CVS Health Co. (NYSE:CVS)

Trustmark National Bank Trust Department reduced its position in CVS Health Co. (NYSE:CVS) by 36.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,737 shares of the pharmacy operator’s stock after selling 5,062 shares during the period. Trustmark National Bank Trust Department’s holdings in CVS Health were worth $549,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Pzena Investment Management LLC boosted its position in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the last quarter. State of Michigan Retirement System boosted its position in CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Swedbank AB purchased a new position in shares of CVS Health during the 1st quarter valued at about $110,816,000. Finally, AQR Capital Management LLC lifted its position in shares of CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVS shares. Barclays cut their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Truist Financial restated a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a research note on Monday. Finally, Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.28.

CVS Health Stock Performance

Shares of CVS Health stock opened at $57.07 on Friday. The business’s fifty day simple moving average is $59.20 and its 200-day simple moving average is $58.60. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market cap of $71.81 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. Equities analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.