Busey Bank decreased its position in CVS Health Co. (NYSE:CVS – Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,532 shares of the pharmacy operator’s stock after selling 923 shares during the period. Busey Bank’s holdings in CVS Health were worth $740,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CVS. Norges Bank bought a new position in CVS Health in the fourth quarter valued at about $1,092,040,000. Capital International Investors lifted its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after buying an additional 10,837,801 shares during the period. Pzena Investment Management LLC lifted its stake in CVS Health by 573.8% in the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after buying an additional 4,729,207 shares during the period. Capital World Investors lifted its stake in CVS Health by 8.0% in the first 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 during the period. Finally, Clearbridge Investments LLC lifted its stake in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares during the period. Institutional investors own 80.66% of the company’s stock.
CVS Health Stock Performance
NYSE:CVS traded down $0.74 during mid-day trading on Thursday, hitting $57.58. 2,272,763 shares of the stock were exchanged, compared to its average volume of 11,264,896. The stock has a market capitalization of $72.28 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The firm’s 50-day simple moving average is $58.96 and its 200 day simple moving average is $65.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.
CVS Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.62%. CVS Health’s dividend payout ratio is presently 46.75%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CVS. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Argus dropped their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.24.
Read Our Latest Stock Analysis on CVS Health
About CVS Health
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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