Park National Corp OH Sells 8,740 Shares of CVS Health Co. (NYSE:CVS)

Park National Corp OH decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 242,625 shares of the pharmacy operator’s stock after selling 8,740 shares during the period. Park National Corp OH’s holdings in CVS Health were worth $15,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health during the 4th quarter worth $32,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter valued at about $34,000. Steph & Co. raised its holdings in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares in the last quarter. Finally, ORG Partners LLC lifted its position in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVS. Deutsche Bank Aktiengesellschaft decreased their price target 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. Barclays lowered their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Evercore ISI decreased their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Price Performance

CVS stock opened at $62.24 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a 50-day moving average of $58.44 and a 200 day moving average of $61.66. The company has a market cap of $78.13 billion, a P/E ratio of 10.94, a PEG ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company 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 firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.27%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.