First Hawaiian Bank Purchases 3,990 Shares of CVS Health Corporation $CVS

Key Points

• First Hawaiian Bank increased its holdings in CVS Health by 4.0% in Q1, acquiring an additional 3,990 shares, bringing its total to 102,950 shares valued at approximately $6.975 million.
• CVS Health is receiving positive attention from analysts, with several firms raising their price targets; for instance, Morgan Stanley increased its target from $80.00 to $82.00.
• The company reported earnings of $1.81 per share for the last quarter, exceeding expectations, and experienced a revenue increase of 8.4% year-over-year, totaling $98.92 billion.

First Hawaiian Bank grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,950 shares of the pharmacy operator's stock after purchasing an additional 3,990 shares during the period. First Hawaiian Bank's holdings in CVS Health were worth $6,975,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVS. Modern Wealth Management LLC acquired a new position in CVS Health in the first quarter worth $204,000. Strs Ohio bought a new stake in CVS Health in the first quarter valued at $55,775,000. GK Wealth Management LLC bought a new stake in CVS Health in the first quarter valued at $253,000. Jacobi Capital Management LLC lifted its stake in CVS Health by 4.6% in the first quarter. Jacobi Capital Management LLC now owns 30,255 shares of the pharmacy operator's stock valued at $2,050,000 after buying an additional 1,317 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its stake in CVS Health by 7.3% in the first quarter. Advisors Capital Management LLC now owns 217,896 shares of the pharmacy operator's stock valued at $14,762,000 after buying an additional 14,761 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

CVS stock traded up $0.33 on Friday, hitting $75.00. 6,400,711 shares of the company's stock traded hands, compared to its average volume of 6,810,735. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $75.55. The stock has a market cap of $95.12 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 0.83 and a beta of 0.62. The stock has a fifty day moving average of $67.11 and a 200-day moving average of $66.33. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating 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 business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the business earned $1.83 earnings per share. The business'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. On average, analysts forecast 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%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVS has been the topic of a number of recent research reports. Wall Street Zen cut CVS Health from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group lifted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley lifted their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Sanford C. Bernstein lifted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Finally, UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.89.

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.