Tompkins Financial Corp Sells 2,500 Shares of CVS Health Co. (NYSE:CVS)

Tompkins Financial Corp lessened its holdings in CVS Health Co. (NYSE:CVS) by 36.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,338 shares of the pharmacy operator’s stock after selling 2,500 shares during the period. Tompkins Financial Corp’s holdings in CVS Health were worth $195,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new stake in CVS Health in the second quarter valued at $1,140,000. E Fund Management Co. Ltd. increased its stake in shares of CVS Health by 11.0% in the second quarter. E Fund Management Co. Ltd. now owns 4,722 shares of the pharmacy operator’s stock valued at $279,000 after buying an additional 467 shares during the period. Marathon Trading Investment Management LLC bought a new position in shares of CVS Health during the second quarter worth about $1,412,000. WCG Wealth Advisors LLC lifted its stake in shares of CVS Health by 24.4% in the second quarter. WCG Wealth Advisors LLC now owns 28,866 shares of the pharmacy operator’s stock worth $1,705,000 after acquiring an additional 5,668 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in CVS Health by 46.9% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 5,249 shares of the pharmacy operator’s stock valued at $310,000 after acquiring an additional 1,677 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

CVS opened at $52.01 on Friday. The company has a market cap of $65.44 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.72 and a beta of 0.59. The company’s fifty day moving average price is $51.49 and its two-hundred day moving average price is $56.39. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. 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) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. On average, analysts expect that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

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 paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Truist Financial decreased their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One equities 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Company Profile

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.