First Hawaiian Bank Sells 368 Shares of CVS Health Co. (NYSE:CVS)

First Hawaiian Bank lowered its stake in CVS Health Co. (NYSE:CVS) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,960 shares of the pharmacy operator’s stock after selling 368 shares during the quarter. First Hawaiian Bank’s holdings in CVS Health were worth $4,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the third quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the third quarter worth $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.14 during trading on Wednesday, reaching $45.92. The company had a trading volume of 12,573,443 shares, compared to its average volume of 12,420,939. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $81.03. The company has a fifty day moving average of $52.40 and a two-hundred day moving average of $56.86. The stock has a market capitalization of $57.79 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 firm had revenue of $95.43 billion for 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%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 EPS. Equities research analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced 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 5.79%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVS shares. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Truist Financial lowered 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 note on Monday. Finally, UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

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.