Vest Financial LLC Acquires 1,492 Shares of CVS Health Co. (NYSE:CVS)

Vest Financial LLC raised its stake in shares of CVS Health Co. (NYSE:CVS) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,630 shares of the pharmacy operator’s stock after purchasing an additional 1,492 shares during the quarter. Vest Financial LLC’s holdings in CVS Health were worth $432,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after acquiring an additional 461,569 shares during the period. Pzena Investment Management LLC lifted its stake in shares of 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 purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 valued at $767,681,000 after purchasing an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% in 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVS shares. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Stock Performance

Shares of CVS opened at $53.95 on Monday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business has a fifty day moving average of $50.79 and a 200 day moving average of $55.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $67.90 billion, a P/E ratio of 13.69, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.