PNC Financial Services Group Inc. Trims Holdings in CVS Health Co. (NYSE:CVS)

PNC Financial Services Group Inc. lessened its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 744,628 shares of the pharmacy operator's stock after selling 169,499 shares during the period. PNC Financial Services Group Inc. owned 0.06% of CVS Health worth $46,822,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA grew its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. StockNews.com cut CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded shares of CVS Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $60.00 to $66.00 in a research report on Monday. Finally, Truist Financial reaffirmed a "buy" rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.28.

CVS Health Trading Up 1.9 %

NYSE:CVS opened at $56.83 on Thursday. The firm has a market capitalization of $71.52 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.94 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. 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 company has a fifty day moving average of $59.18 and a 200 day moving average of $58.61.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health's quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.68%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is currently 67.51%.

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.