Watch Point Trust Co lifted its stake in CVS Health Corp (NYSE:CVS) by 26.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 56,872 shares of the pharmacy operator’s stock after buying an additional 11,945 shares during the quarter. Watch Point Trust Co’s holdings in CVS Health were worth $3,099,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB grew its position in CVS Health by 2.8% during the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after acquiring an additional 340,315 shares during the last quarter. Pinnacle Bank bought a new stake in CVS Health during the 4th quarter worth approximately $157,000. Contravisory Investment Management Inc. bought a new stake in CVS Health during the 1st quarter worth approximately $3,040,000. Owl Creek Asset Management L.P. grew its position in CVS Health by 126.1% during the 4th quarter. Owl Creek Asset Management L.P. now owns 1,750,594 shares of the pharmacy operator’s stock worth $114,699,000 after acquiring an additional 976,494 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in CVS Health by 3.0% during the 1st quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock worth $6,965,000 after acquiring an additional 3,794 shares during the last quarter. 77.18% of the stock is owned by institutional investors and hedge funds.
CVS traded down $0.35 during mid-day trading on Thursday, reaching $58.21. The stock had a trading volume of 4,480,852 shares, compared to its average volume of 8,160,261. The company has a market cap of $76.38 billion, a PE ratio of 8.22, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $56.23. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
A number of equities research analysts recently commented on the company. Evercore ISI set a $63.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Guggenheim assumed coverage on CVS Health in a research report on Thursday, April 18th. They set a “buy” rating and a $75.00 price target on the stock. Finally, Raymond James decreased their price target on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $75.14.
CVS Health 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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