Arden Trust Co Buys Shares of 3,957 CVS Health Co. (NYSE:CVS)

Arden Trust Co acquired a new stake in CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,957 shares of the pharmacy operator’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. USA Financial Formulas increased its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the fourth quarter worth approximately $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $34,000. Steph & Co. boosted its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in CVS Health during the fourth quarter valued at approximately $36,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Down 3.2 %

Shares of NYSE:CVS traded down $1.87 during midday trading on Wednesday, hitting $56.47. The stock had a trading volume of 14,878,350 shares, compared to its average volume of 11,567,163. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $59.41 and its 200-day simple moving average is $66.50. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $70.89 billion, a P/E ratio of 10.17, a PEG ratio of 0.57 and a beta of 0.52.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Bank of America dropped their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Mizuho cut their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.55.

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.