Dynamic Advisor Solutions LLC reduced its holdings in shares of CVS Health Corp (NYSE:CVS) by 69.5% during the fourth quarter, Holdings Channel reports. The fund owned 9,800 shares of the pharmacy operator’s stock after selling 22,322 shares during the period. Dynamic Advisor Solutions LLC’s holdings in CVS Health were worth $641,000 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 the business. Atlas Capital Advisors LLC grew its position in CVS Health by 7,653.0% during the fourth quarter. Atlas Capital Advisors LLC now owns 20,778 shares of the pharmacy operator’s stock valued at $1,361,000 after acquiring an additional 20,510 shares during the last quarter. Advisor Partners LLC grew its holdings in shares of CVS Health by 43.6% in the fourth quarter. Advisor Partners LLC now owns 43,657 shares of the pharmacy operator’s stock worth $2,860,000 after purchasing an additional 13,253 shares during the last quarter. Parsec Financial Management Inc. grew its holdings in shares of CVS Health by 2.8% in the fourth quarter. Parsec Financial Management Inc. now owns 284,039 shares of the pharmacy operator’s stock worth $18,610,000 after purchasing an additional 7,666 shares during the last quarter. Inverness Counsel LLC NY grew its holdings in shares of CVS Health by 99.1% in the fourth quarter. Inverness Counsel LLC NY now owns 13,458 shares of the pharmacy operator’s stock worth $882,000 after purchasing an additional 6,698 shares during the last quarter. Finally, Bigelow Investment Advisors LLC grew its holdings in shares of CVS Health by 33.6% in the fourth quarter. Bigelow Investment Advisors LLC now owns 4,243 shares of the pharmacy operator’s stock worth $278,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.
Several brokerages have recently issued reports on CVS. ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Saturday, February 2nd. UBS Group began coverage on shares of CVS Health in a report on Thursday, January 17th. They issued a “buy” rating and a $75.00 target price on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $96.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Bank of America restated a “buy” rating and issued a $92.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Finally, Barclays began coverage on shares of CVS Health in a report on Tuesday, December 18th. They issued an “overweight” rating and a $91.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $91.79.
In related news, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $69.04, for a total value of $11,486,046.72. Following the sale, the insider now owns 496,577 shares in the company, valued at $34,283,676.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David M. Denton sold 25,159 shares of CVS Health stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the completion of the sale, the chief financial officer now owns 403 shares in the company, valued at approximately $32,292.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,534 shares of company stock worth $29,245,258. 0.53% of the stock is currently owned by company insiders.
NYSE:CVS opened at $67.79 on Thursday. The firm has a market capitalization of $66.34 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.88 and a beta of 1.03. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $82.15. The company has a current ratio of 2.44, a quick ratio of 1.94 and a debt-to-equity ratio of 1.66.
The business also recently declared a quarterly dividend, which was paid on Monday, February 4th. Investors of record on Friday, January 25th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, January 24th. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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