Canal Insurance CO increased its position in CVS Health Co. (NYSE:CVS – Free Report) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,000 shares of the pharmacy operator’s stock after purchasing an additional 30,000 shares during the quarter. CVS Health accounts for 2.7% of Canal Insurance CO’s portfolio, making the stock its 13th largest position. Canal Insurance CO’s holdings in CVS Health were worth $10,325,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CVS. State Street Corp raised its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after acquiring an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after purchasing an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.
CVS Health Price Performance
CVS opened at $56.20 on Tuesday. The stock has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a fifty day moving average price of $51.24 and a 200 day moving average price of $56.20.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CVS. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.
Read Our Latest Stock Report on CVS Health
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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