Valley National Advisers Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 76.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,934 shares of the pharmacy operator’s stock after selling 18,762 shares during the quarter. Valley National Advisers Inc.’s holdings in CVS Health were worth $350,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Vanguard Group Inc. grew its stake in CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares in the last quarter. Capital World Investors grew its stake in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Capital International Investors grew its stake in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $1,092,040,000. Finally, Capital Research Global Investors grew its stake in shares of CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after buying an additional 184,297 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.
CVS Health Stock Up 1.4 %
Shares of CVS opened at $58.35 on Friday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a 50-day moving average price of $59.04 and a two-hundred day moving average price of $65.67. 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 stock has a market cap of $73.25 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.57 and a beta of 0.52.
CVS Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and reduced their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.24.
Get Our Latest Research Report on CVS Health
CVS Health Company 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.
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