First Citizens Bank & Trust Co. Trims Position in CVS Health Co. (NYSE:CVS)

First Citizens Bank & Trust Co. lessened its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 80.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,709 shares of the pharmacy operator's stock after selling 55,611 shares during the period. First Citizens Bank & Trust Co.'s holdings in CVS Health were worth $615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter valued at $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 2.0 %

Shares of CVS traded up $1.11 during mid-day trading on Tuesday, reaching $57.31. The company's stock had a trading volume of 9,796,307 shares, compared to its average volume of 13,473,765. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The stock has a market cap of $72.12 billion, a PE ratio of 14.59, a P/E/G ratio of 0.80 and a beta of 0.59. The company's fifty day moving average price is $51.24 and its two-hundred day moving average price is $56.19. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. On average, analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.64%. CVS Health's payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVS. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Truist Financial decreased their price target on CVS Health from $67.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.12.

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.