Focus Partners Advisor Solutions LLC purchased a new position in CVS Health Corporation (NYSE:CVS – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,242 shares of the pharmacy operator’s stock, valued at approximately $646,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in CVS Health by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator’s stock worth $9,579,508,000 after buying an additional 1,824,424 shares during the period. State Street Corp lifted its stake in CVS Health by 2.1% during the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after buying an additional 1,245,457 shares in the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 3.4% in the fourth quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock worth $2,189,793,000 after buying an additional 900,153 shares during the period. Norges Bank purchased a new position in shares of CVS Health in the fourth quarter worth approximately $1,666,265,000. Finally, Morgan Stanley increased its position in shares of CVS Health by 6.3% in the fourth quarter. Morgan Stanley now owns 20,373,774 shares of the pharmacy operator’s stock worth $1,616,863,000 after acquiring an additional 1,211,631 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
CVS Health Price Performance
NYSE CVS opened at $93.99 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The firm has a market capitalization of $120.21 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The company has a 50 day simple moving average of $102.46 and a 200-day simple moving average of $88.41. CVS Health Corporation has a 52-week low of $69.40 and a 52-week high of $110.68.
CVS Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, July 23rd. CVS Health’s payout ratio is currently 70.37%.
Insider Buying and Selling at CVS Health
In other news, Director Larry Robbins sold 1,018,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $93.82, for a total value of $95,508,760.00. Following the transaction, the director directly owned 5,195,261 shares of the company’s stock, valued at approximately $487,419,387.02. This represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. DA Davidson upped their price target on shares of CVS Health from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group lifted their price objective on shares of CVS Health from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Sanford C. Bernstein boosted their target price on shares of CVS Health from $94.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. TD Cowen raised their target price on CVS Health from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Morgan Stanley lifted their price target on CVS Health from $106.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Twenty-two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $106.75.
Read Our Latest Stock Analysis on CVS
CVS Health Company Profile
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
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