Farmers & Merchants Trust Co of Chambersburg PA Has $334,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Farmers & Merchants Trust Co of Chambersburg PA trimmed its holdings in CVS Health Co. (NYSE:CVS) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 7,437 shares of the pharmacy operator’s stock after selling 200 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in CVS Health were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the period. ARGA Investment Management LP raised its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after buying an additional 2,371,563 shares during the period. State Street Corp raised its stake in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health during the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC raised its stake in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Wolfe Research boosted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Performance

CVS stock opened at $66.35 on Friday. The firm has a market cap of $83.49 billion, a PE ratio of 16.84, a P/E/G ratio of 0.60 and a beta of 0.61. 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 business has a 50 day moving average of $50.71 and a 200-day moving average of $55.94. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. As a group, sell-side analysts expect that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.