MainStreet Investment Advisors LLC raised its position in shares of CVS Health Corp (NYSE:CVS) by 13.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,952 shares of the pharmacy operator’s stock after buying an additional 10,102 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in CVS Health were worth $5,040,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in CVS. Wealth Quarterback LLC bought a new stake in shares of CVS Health during the 4th quarter worth $12,665,010,000. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter valued at about $955,672,000. Capital World Investors raised its holdings in shares of CVS Health by 744.2% in the 4th quarter. Capital World Investors now owns 10,974,728 shares of the pharmacy operator’s stock valued at $815,313,000 after purchasing an additional 9,674,728 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in CVS Health by 468.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,042,981 shares of the pharmacy operator’s stock valued at $224,325,000 after acquiring an additional 2,507,659 shares during the period. Finally, Veritas Asset Management LLP boosted its position in CVS Health by 32.1% in the first quarter. Veritas Asset Management LLP now owns 10,235,658 shares of the pharmacy operator’s stock valued at $607,282,000 after buying an additional 2,487,300 shares in the last quarter. Institutional investors and hedge funds own 76.44% of the company’s stock.
Shares of NYSE CVS traded down $0.02 during midday trading on Friday, hitting $63.32. The company’s stock had a trading volume of 2,545,748 shares, compared to its average volume of 8,176,636. The stock has a fifty day moving average price of $61.03 and a 200 day moving average price of $67.63. CVS Health Corp has a one year low of $52.04 and a one year high of $77.03. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $82.63 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.42 and a beta of 0.73.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 23rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
A number of equities analysts recently weighed in on CVS shares. Cfra lifted their target price on shares of CVS Health from $85.00 to $86.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 12th. SunTrust Banks reduced their price target on shares of CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 13th. Robert W. Baird lifted their price objective on shares of CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Cantor Fitzgerald lifted their price objective on shares of CVS Health from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Credit Suisse Group upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Thursday, May 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $80.88.
In other news, EVP Alan Lotvin bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $63.14 per share, with a total value of $315,700.00. Following the acquisition, the executive vice president now owns 15,161 shares of the company’s stock, valued at approximately $957,265.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James David Clark sold 6,234 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total transaction of $405,210.00. Following the sale, the senior vice president now directly owns 4,817 shares in the company, valued at approximately $313,105. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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