Grove Bank & Trust Acquires 444 Shares of CVS Health Co. (NYSE:CVS)

Grove Bank & Trust lifted its position in shares of CVS Health Co. (NYSE:CVS) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,735 shares of the pharmacy operator’s stock after purchasing an additional 444 shares during the period. Grove Bank & Trust’s holdings in CVS Health were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of 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 purchasing an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CVS Health by 1.8% during 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 purchasing an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of 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 worth $825,948,000 after purchasing an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CVS Health by 2.6% during 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 purchasing an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVS. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial cut their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Price Performance

Shares of CVS opened at $52.72 on Tuesday. The stock has a market cap of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The business’s fifty day moving average is $51.34 and its 200 day moving average is $56.32. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. 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 (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Sell-side analysts anticipate that CVS Health Co. will post 5.22 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. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is currently 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.