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Farmers & Merchants Trust Co of Chambersburg PA Sells 2,160 Shares of CVS Health Co. (NYSE:CVS)

Financial News Live · Sep 26, 2022 17:03

Farmers & Merchants Trust Co of Chambersburg PA lessened its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,291 shares of the pharmacy operator's stock after selling 2,160 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA's holdings in CVS Health were worth $1,602,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Macroview Investment Management LLC grew its stake in CVS Health by 128.3% in the 1st quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator's stock valued at $25,000 after buying an additional 136 shares in the last quarter. Claremont Financial Group Inc. purchased a new position in CVS Health in the 4th quarter valued at approximately $26,000. Stuart Chaussee & Associates Inc. grew its stake in CVS Health by 123.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator's stock valued at $31,000 after buying an additional 171 shares in the last quarter. Rise Advisors LLC purchased a new position in CVS Health in the 4th quarter valued at approximately $41,000. Finally, Carl Stuart Investment Advisor Inc. purchased a new position in CVS Health in the 1st quarter valued at approximately $41,000. Institutional investors own 77.64% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVS shares. Credit Suisse Group boosted their price target on shares of CVS Health from $113.00 to $117.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. Mizuho boosted their price target on shares of CVS Health from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CVS Health from $113.00 to $120.00 in a research report on Thursday, August 4th. UBS Group boosted their price target on shares of CVS Health from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Finally, Tigress Financial boosted their price target on shares of CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average target price of $117.59.

CVS Health Trading Down 1.0 %

Shares of NYSE:CVS traded down $1.02 during midday trading on Monday, hitting $97.33. 133,118 shares of the stock traded hands, compared to its average volume of 5,590,228. The stock has a market capitalization of $127.78 billion, a PE ratio of 15.99, a P/E/G ratio of 1.50 and a beta of 0.73. The business's 50 day moving average is $100.20 and its two-hundred day moving average is $99.19. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67. CVS Health Co. has a one year low of $81.78 and a one year high of $111.25.

CVS Health (NYSE:CVS – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, beating the consensus estimate of $2.16 by $0.24. The firm had revenue of $80.64 billion during the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 8.53 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 21st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health's dividend payout ratio is currently 35.77%.

Insider Activity at CVS Health

In related news, EVP Thomas M. Moriarty sold 138,654 shares of the business's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares in the company, valued at $59,495,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the business's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares in the company, valued at $59,495,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Lotvin sold 22,541 shares of the company's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

CVS Health Company Profile

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.