Crews Bank & Trust Invests $369,000 in CVS Health Co. (NYSE:CVS)

Crews Bank & Trust purchased a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,219 shares of the pharmacy operator’s stock, valued at approximately $369,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its stake in shares of CVS Health by 3.6% in the third 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CVS. Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial cut their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Down 0.1 %

Shares of CVS Health stock opened at $56.84 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a 50 day moving average of $51.28 and a 200 day moving average of $56.17. 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 market capitalization of $71.53 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that CVS Health Co. will post 5.18 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. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. 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.