Kanawha Capital Management LLC boosted its position in shares of CVS Health Corp (NYSE:CVS) by 9.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 51,275 shares of the pharmacy operator’s stock after buying an additional 4,575 shares during the period. Kanawha Capital Management LLC’s holdings in CVS Health were worth $2,765,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CVS. Brookmont Capital Management boosted its holdings in shares of CVS Health by 3.0% during the 4th quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock worth $340,000 after purchasing an additional 152 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of CVS Health by 19.6% during the 4th quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock worth $57,000 after purchasing an additional 156 shares during the last quarter. Clarus Wealth Advisors boosted its holdings in shares of CVS Health by 6.9% during the 4th quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock worth $161,000 after purchasing an additional 158 shares during the last quarter. Adviser Investments LLC boosted its holdings in shares of CVS Health by 5.4% during the 4th quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock worth $207,000 after purchasing an additional 162 shares during the last quarter. Finally, Lee Danner & Bass Inc. boosted its holdings in shares of CVS Health by 0.4% during the 4th quarter. Lee Danner & Bass Inc. now owns 45,077 shares of the pharmacy operator’s stock worth $2,953,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 78.49% of the company’s stock.
CVS opened at $52.79 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health Corp has a one year low of $51.72 and a one year high of $82.15. The company has a market capitalization of $69.53 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 1.05 and a beta of 0.93.
The company also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 28.25%.
In other news, Director C David Brown II purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $53.18 per share, for a total transaction of $531,800.00. Following the completion of the purchase, the director now directly owns 16,222 shares of the company’s stock, valued at $862,685.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig purchased 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $58.27 per share, for a total transaction of $233,080.00. Following the completion of the purchase, the director now directly owns 5,378 shares of the company’s stock, valued at $313,376.06. The disclosure for this purchase can be found here. Insiders have acquired 23,600 shares of company stock worth $1,270,896 over the last 90 days. 0.53% of the stock is owned by insiders.
CVS has been the topic of several recent research reports. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. Wells Fargo & Co cut CVS Health from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $104.00 to $68.00 in a report on Wednesday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price objective on shares of CVS Health in a report on Thursday, February 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $91.00 price objective on shares of CVS Health in a report on Thursday, February 21st. Finally, Loop Capital decreased their price objective on CVS Health to $68.00 and set a “hold” rating on the stock in a report on Thursday, February 21st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $77.62.
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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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