Smith Moore & CO. increased its stake in CVS Health (NYSE:CVS) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,083 shares of the pharmacy operator’s stock after acquiring an additional 1,157 shares during the period. Smith Moore & CO.’s holdings in CVS Health were worth $514,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVS. Ontario Teachers Pension Plan Board lifted its stake in CVS Health by 1.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 769,956 shares of the pharmacy operator’s stock valued at $55,822,000 after purchasing an additional 8,354 shares during the last quarter. Synovus Financial Corp lifted its stake in CVS Health by 8.5% during the fourth quarter. Synovus Financial Corp now owns 98,395 shares of the pharmacy operator’s stock valued at $7,149,000 after purchasing an additional 7,702 shares during the last quarter. American International Group Inc. lifted its stake in CVS Health by 1,342.0% during the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock valued at $513,406,000 after purchasing an additional 6,590,370 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in CVS Health by 7,225.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,871,164 shares of the pharmacy operator’s stock valued at $498,159,000 after purchasing an additional 6,777,364 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in CVS Health during the fourth quarter valued at approximately $233,000. Institutional investors and hedge funds own 83.97% of the company’s stock.
Shares of NYSE:CVS opened at $63.43 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market capitalization of $64,930.05, a P/E ratio of 10.81, a PEG ratio of 1.06 and a beta of 1.05. CVS Health has a 52 week low of $60.14 and a 52 week high of $84.00.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.15%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
Several analysts recently commented on CVS shares. Raymond James Financial raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 target price for the company in a research note on Thursday, January 4th. They noted that the move was a valuation call. Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 target price for the company in a research note on Friday, January 5th. Bank of America cut their target price on shares of CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho set a $95.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Needham & Company LLC increased their target price on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. CVS Health has an average rating of “Buy” and an average price target of $86.65.
In related news, EVP Helena Foulkes sold 19,965 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares in the company, valued at approximately $4,622,714.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.
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.
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 (NYSE:CVS).
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.