Ameritas Advisory Services LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,683 shares of the pharmacy operator’s stock after selling 973 shares during the quarter. Ameritas Advisory Services LLC’s holdings in CVS Health were worth $572,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter worth about $1,092,040,000. Capital International Investors raised its stake in CVS Health by 47.4% during 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 in the last quarter. Pzena Investment Management LLC lifted its holdings in CVS Health by 573.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock worth $442,944,000 after buying an additional 4,729,207 shares during the last quarter. Capital World Investors increased its holdings 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 acquiring an additional 3,232,172 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
CVS Health Stock Performance
CVS traded up $0.11 during midday trading on Friday, reaching $57.08. The company’s stock had a trading volume of 2,795,392 shares, compared to its average volume of 11,149,400. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a market cap of $71.66 billion, a P/E ratio of 10.01, a PEG ratio of 0.57 and a beta of 0.52. The company has a fifty day simple moving average of $58.67 and a 200 day simple moving average of $64.71. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. CVS Health’s dividend payout ratio is currently 46.75%.
Wall Street Analyst Weigh In
Several research firms have weighed in on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $99.00 to $59.00 in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group cut their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $73.24.
Read Our Latest Research Report 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.
See Also
- Five stocks we like better than CVS Health
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- Top Biotech Stocks: Exploring Innovation Opportunities
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- Investing in Commodities: What Are They? How to Invest in Them
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS – Free Report).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.