Cornerstone Wealth Group LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVS – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,852 shares of the pharmacy operator’s stock, valued at approximately $266,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its stake in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in CVS Health by 1.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after acquiring an additional 6,615 shares during the period. Cerity Partners LLC increased its holdings in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after purchasing an additional 183,813 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after purchasing an additional 572,533 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Price Performance
CVS Health stock opened at $79.67 on Wednesday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $79.94. The firm has a market capitalization of $101.05 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.87 and a beta of 0.60. The company has a fifty day simple moving average of $72.95 and a 200-day simple moving average of $67.83. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio is currently 74.30%.
Insider Activity
In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on CVS shares. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Mizuho lifted their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVS Health in a report on Tuesday. Bernstein Bank cut their price target on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. Finally, Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $81.05.
View Our Latest Analysis on CVS
CVS Health 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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