CIBC Private Wealth Group LLC trimmed its holdings in CVS Health Co. (NYSE:CVS – Get Rating) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,358 shares of the pharmacy operator’s stock after selling 3,264 shares during the period. CIBC Private Wealth Group LLC’s holdings in CVS Health were worth $21,969,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co raised its position in shares of CVS Health by 1.0% in the third quarter. Diversified Trust Co now owns 14,899 shares of the pharmacy operator’s stock valued at $1,421,000 after buying an additional 145 shares in the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of CVS Health by 28.9% in the third quarter. Carnegie Capital Asset Management LLC now owns 55,867 shares of the pharmacy operator’s stock valued at $5,328,000 after buying an additional 12,527 shares in the last quarter. Bond & Devick Financial Network Inc. raised its position in shares of CVS Health by 1.9% in the third quarter. Bond & Devick Financial Network Inc. now owns 10,820 shares of the pharmacy operator’s stock valued at $1,032,000 after buying an additional 200 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of CVS Health by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 470,446 shares of the pharmacy operator’s stock valued at $43,601,000 after buying an additional 6,045 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in CVS Health by 107.8% during the third quarter. Ritholtz Wealth Management now owns 26,627 shares of the pharmacy operator’s stock valued at $2,539,000 after purchasing an additional 13,813 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Stock Performance
Shares of CVS Health stock opened at $75.56 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.71. CVS Health Co. has a twelve month low of $74.79 and a twelve month high of $109.69. The stock has a market cap of $97.03 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.19 and a beta of 0.65. The company’s fifty day moving average is $86.37 and its 200 day moving average is $93.47.
CVS Health Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Friday, January 20th were given a dividend of $0.605 per share. The ex-dividend date was Thursday, January 19th. This represents a $2.42 dividend on an annualized basis and a yield of 3.20%. This is a boost from CVS Health’s previous quarterly dividend of $0.55. CVS Health’s dividend payout ratio is 77.56%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Credit Suisse Group boosted their price objective on shares of CVS Health from $117.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 21st. StockNews.com downgraded shares of CVS Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 9th. Raymond James lowered their price objective on shares of CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Wells Fargo & Company lowered their price objective on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 3rd. Finally, Morgan Stanley boosted their target price on shares of CVS Health from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, January 13th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.65.
Insider Buying and Selling at CVS Health
In other CVS Health news, EVP Thomas M. Moriarty sold 137,466 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $98.36, for a total transaction of $13,521,155.76. Following the sale, the executive vice president now owns 608,129 shares of the company’s stock, valued at $59,815,568.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.
About CVS Health
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
- Get a free copy of the StockNews.com research report on CVS Health (CVS)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
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 – Get Rating).
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.