Central Pacific Bank Trust Division Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

Central Pacific Bank Trust Division grew its stake in CVS Health Co. (NYSE:CVS) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,257 shares of the pharmacy operator’s stock after buying an additional 989 shares during the period. Central Pacific Bank Trust Division’s holdings in CVS Health were worth $1,538,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVS. Sound Income Strategies LLC grew its holdings in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares during the period. HHM Wealth Advisors LLC grew its position in shares of CVS Health by 11.9% during the second quarter. HHM Wealth Advisors LLC now owns 1,886 shares of the pharmacy operator’s stock worth $111,000 after acquiring an additional 200 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after acquiring an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CVS. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Truist Financial reiterated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Finally, Piper Sandler cut their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.12.

CVS Health Price Performance

Shares of CVS traded up $1.45 during mid-day trading on Friday, reaching $45.67. 6,166,878 shares of the company’s stock were exchanged, compared to its average volume of 8,335,439. The company has a 50-day simple moving average of $53.05 and a two-hundred day simple moving average of $57.21. The company has a market cap of $57.47 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.85 and a beta of 0.54. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 5.82%. CVS Health’s dividend payout ratio is presently 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.