Foster & Motley Inc. reduced its stake in CVS Health Corporation (NYSE:CVS – Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,876 shares of the pharmacy operator’s stock after selling 1,491 shares during the period. Foster & Motley Inc.’s holdings in CVS Health were worth $1,578,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after buying an additional 4,632,530 shares during the last quarter. Dodge & Cox increased its holdings in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Nuveen LLC purchased a new position in CVS Health in the first quarter valued at $204,421,000. Invesco Ltd. increased its holdings in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after buying an additional 2,375,764 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in CVS Health by 815.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock valued at $183,701,000 after buying an additional 2,372,121 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Stock Performance
Shares of CVS stock opened at $82.64 on Friday. The stock has a market capitalization of $104.81 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $82.88. The stock’s 50-day moving average price is $74.00 and its 200 day moving average price is $68.12. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s payout ratio is 74.30%.
Insider Transactions at CVS Health
In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Zacks Research lowered CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. The Goldman Sachs Group began coverage on CVS Health in a report on Tuesday. They issued a “buy” rating and a $91.00 target price on the stock. Truist Financial set a $92.00 target price on CVS Health in a research report on Tuesday. Wells Fargo & Company boosted their target price on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CVS Health in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.57.
Check Out Our Latest Stock Report on CVS Health
CVS Health Company 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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