Central Pacific Bank Trust Division Acquires 500 Shares of CVS Health Corporation $CVS

Central Pacific Bank Trust Division boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,000 shares of the pharmacy operator’s stock after acquiring an additional 500 shares during the period. Central Pacific Bank Trust Division’s holdings in CVS Health were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after acquiring an additional 1,582,257 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after buying an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after buying an additional 183,813 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after buying an additional 572,533 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after buying an additional 311,098 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of NYSE CVS opened at $75.00 on Friday. The firm has a market cap of $95.12 billion, a PE ratio of 20.95, a PEG ratio of 0.82 and a beta of 0.62. The firm has a fifty day moving average of $67.11 and a 200 day moving average of $66.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a one year low of $43.56 and a one year high of $75.55.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health’s payout ratio is 74.30%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Bernstein Bank decreased their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 16th. Barclays increased their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, Morgan Stanley raised their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.89.

CVS Health 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.