James Investment Research Inc. reduced its position in CVS Health Corp (NYSE:CVS) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,950 shares of the pharmacy operator’s stock after selling 5,220 shares during the period. James Investment Research Inc.’s holdings in CVS Health were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. BlackRock Inc. raised its position in CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after acquiring an additional 4,121,620 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in CVS Health during the second quarter worth $190,701,000. Boston Partners raised its position in CVS Health by 41.9% during the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock worth $637,637,000 after acquiring an additional 2,924,875 shares during the period. Morgan Stanley raised its position in CVS Health by 28.4% during the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock worth $537,854,000 after acquiring an additional 1,848,678 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in CVS Health by 52.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,171,271 shares of the pharmacy operator’s stock worth $332,771,000 after acquiring an additional 1,771,170 shares during the period. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Shares of NYSE CVS opened at $72.39 on Wednesday. The stock has a market capitalization of $71.39 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.02. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. CVS Health Corp has a 52 week low of $60.14 and a 52 week high of $83.88.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 33.90%.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Insiders sold 43,409 shares of company stock valued at $3,392,097 over the last quarter. Company insiders own 0.53% of the company’s stock.
CVS has been the subject of a number of research analyst reports. Tigress Financial restated a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price objective on shares of CVS Health in a research report on Wednesday, August 8th. Citigroup restated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. Bank of America upped their price objective on shares of CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $86.18.
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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