Riverview Trust Co bought a new position in shares of CVS Health Corp (NYSE:CVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,310 shares of the pharmacy operator’s stock, valued at approximately $676,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. grew its stake in CVS Health by 12,771.1% during the fourth quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock worth $63,712,000 after buying an additional 964,854 shares during the last quarter. Jackson Wealth Management LLC bought a new stake in CVS Health during the fourth quarter worth about $1,535,000. Morgan Stanley grew its stake in CVS Health by 7.9% during the third quarter. Morgan Stanley now owns 9,018,238 shares of the pharmacy operator’s stock worth $709,914,000 after buying an additional 659,975 shares during the last quarter. Capital International Investors grew its stake in CVS Health by 5,579.8% during the third quarter. Capital International Investors now owns 9,161,488 shares of the pharmacy operator’s stock worth $721,192,000 after buying an additional 9,000,188 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in CVS Health by 13.8% during the fourth quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock worth $17,042,000 after buying an additional 31,567 shares during the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CVS traded up $0.09 during midday trading on Friday, reaching $52.63. 15,930,592 shares of the company were exchanged, compared to its average volume of 13,500,085. CVS Health Corp has a fifty-two week low of $51.77 and a fifty-two week high of $82.15. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. The firm has a market cap of $68.34 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 1.03 and a beta of 0.94.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.
In other CVS Health news, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.51, for a total value of $10,732,399.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David W. Dorman purchased 9,600 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $52.71 per share, for a total transaction of $506,016.00. Following the completion of the acquisition, the director now directly owns 122,302 shares in the company, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. Company insiders own 0.53% of the company’s stock.
Several analysts have recently commented on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $80.00 price target on shares of CVS Health in a research note on Sunday. Raymond James decreased their price target on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Thursday. Guggenheim initiated coverage on shares of CVS Health in a report on Thursday. They issued a “buy” rating and a $75.00 target price on the stock. CIBC reiterated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Finally, Oppenheimer lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and an average price target of $79.15.
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CVS Health Company Profile
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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