Palisade Asset Management LLC boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 130.0% in the 1st quarter, Holdings Channel reports. The fund owned 15,922 shares of the pharmacy operator’s stock after buying an additional 9,000 shares during the quarter. Palisade Asset Management LLC’s holdings in CVS Health were worth $859,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CVS. Brookmont Capital Management boosted its holdings in CVS Health by 3.0% in the fourth quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock valued at $340,000 after purchasing an additional 152 shares during the period. Avestar Capital LLC boosted its holdings in CVS Health by 19.6% in the fourth quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock valued at $57,000 after purchasing an additional 156 shares during the period. Clarus Wealth Advisors boosted its holdings in CVS Health by 6.9% in the fourth quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock valued at $161,000 after purchasing an additional 158 shares during the period. Adviser Investments LLC boosted its holdings in CVS Health by 5.4% in the fourth quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock valued at $207,000 after purchasing an additional 162 shares during the period. Finally, Lee Danner & Bass Inc. boosted its holdings in CVS Health by 0.4% in the fourth quarter. Lee Danner & Bass Inc. now owns 45,077 shares of the pharmacy operator’s stock valued at $2,953,000 after purchasing an additional 178 shares during the period. 80.39% of the stock is owned by institutional investors.
Shares of NYSE CVS opened at $52.97 on Wednesday. The stock has a market cap of $69.92 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 1.05 and a beta of 0.93. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. CVS Health Corp has a 1 year low of $51.77 and a 1 year high of $82.15.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 28.25%.
In other news, Director David W. Dorman bought 9,600 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the completion of the transaction, the director now owns 122,302 shares of the company’s stock, valued at $6,446,538.42. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director C David Brown II bought 10,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $53.18 per share, for a total transaction of $531,800.00. Following the transaction, the director now directly owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,600 shares of company stock valued at $1,270,896 over the last ninety days. 0.53% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the company. BMO Capital Markets set a $63.00 target price on CVS Health and gave the company a “hold” rating in a report on Friday, May 3rd. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Citigroup set a $74.00 target price on CVS Health and gave the company a “buy” rating in a report on Thursday, May 2nd. UBS Group decreased their target price on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 target price on shares of CVS Health in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.62.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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