Central Pacific Bank Trust Division Grows Position in CVS Health Co. (NYSE:CVS)

Central Pacific Bank Trust Division grew its stake in shares of CVS Health Co. (NYSE:CVS) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. State Street Corp increased its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 valued at $1,651,997,000 after buying an additional 461,569 shares during the period. Pzena Investment Management LLC lifted its position in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.12.

CVS Health Stock Performance

Shares of NYSE CVS traded up $1.45 during trading on Friday, reaching $45.67. The stock had a trading volume of 6,166,878 shares, compared to its average volume of 8,335,439. The firm’s 50 day moving average price is $53.05 and its two-hundred day moving average price is $57.21. CVS Health Co. has a one year low of $43.56 and a one year high of $83.25. The stock has a market cap of $57.47 billion, a PE ratio of 11.59, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared 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. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.82%. CVS Health’s payout ratio is 67.51%.

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.