Crews Bank & Trust Takes Position in CVS Health Co. (NYSE:CVS)

Crews Bank & Trust bought a new stake in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,219 shares of the pharmacy operator’s stock, valued at approximately $369,000.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC increased its stake in CVS Health by 1.8% in the 3rd 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 increased its stake in CVS Health by 1.5% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. increased its stake in CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after buying an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% during the 3rd 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 period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVS shares. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial reduced their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Evercore ISI increased their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Stock Down 0.1 %

Shares of NYSE:CVS opened at $56.84 on Friday. 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 $80.75. The company has a 50 day moving average of $51.28 and a two-hundred day moving average of $56.17. The company has a market capitalization of $71.53 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company 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 business’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, analysts forecast that CVS Health Co. will post 5.18 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 4.68%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 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.