Farmers Trust Co. Has $3.71 Million Holdings in CVS Health Corp (CVS)

Farmers Trust Co. grew its position in shares of CVS Health Corp (NYSE:CVS) by 14.8% during the 1st quarter, Holdings Channel reports. The firm owned 68,713 shares of the pharmacy operator’s stock after purchasing an additional 8,850 shares during the quarter. Farmers Trust Co.’s holdings in CVS Health were worth $3,706,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. lifted its holdings in shares of CVS Health by 12,771.1% during the 4th quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock worth $63,712,000 after acquiring an additional 964,854 shares during the period. Jackson Wealth Management LLC purchased a new position in shares of CVS Health during the 4th quarter worth about $1,535,000. Morgan Stanley lifted its holdings in shares of CVS Health by 7.9% during the 3rd quarter. Morgan Stanley now owns 9,018,238 shares of the pharmacy operator’s stock worth $709,914,000 after acquiring an additional 659,975 shares during the period. Pinnacle Bank purchased a new position in shares of CVS Health during the 4th quarter worth about $157,000. Finally, Texas Permanent School Fund lifted its holdings in shares of CVS Health by 13.8% during the 4th quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock worth $17,042,000 after acquiring an additional 31,567 shares during the period. 81.74% of the stock is currently owned by institutional investors.

NYSE CVS opened at $56.66 on Friday. CVS Health Corp has a one year low of $51.77 and a one year high of $82.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.65 and a current ratio of 0.95. The company has a market capitalization of $73.57 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The company had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the company earned $1.48 earnings per share. CVS Health’s revenue for the quarter was up 34.8% on a year-over-year basis. Equities research analysts predict that CVS Health Corp will post 6.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 28.25%.

In other CVS Health news, SVP James David Clark sold 1,664 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now owns 8,557 shares of the company’s stock, valued at $497,503.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig acquired 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $58.27 per share, with a total value of $233,080.00. Following the transaction, the director now directly owns 5,378 shares of the company’s stock, valued at $313,376.06. The disclosure for this purchase can be found here. Insiders acquired 23,600 shares of company stock valued at $1,270,896 in the last ninety days. 0.53% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on CVS. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Friday. CIBC reiterated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Cantor Fitzgerald restated a “buy” rating and issued a $80.00 price target on shares of CVS Health in a report on Wednesday. Morgan Stanley cut their price target on shares of CVS Health from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Raymond James cut their price target on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $77.38.

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CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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