Korea Investment CORP acquired a new stake in shares of CVS Health Corporation (NYSE:CVS – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 943,358 shares of the pharmacy operator’s stock, valued at approximately $97,590,000. Korea Investment CORP owned about 0.07% of CVS Health at the end of the most recent reporting period.
Several other large investors have also modified their holdings of CVS. Handelsbanken Fonder AB grew its stake in CVS Health by 83.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,089,694 shares of the pharmacy operator’s stock worth $112,729,000 after buying an additional 496,124 shares during the last quarter. State Street Corp lifted its stake in CVS Health by 2.1% in the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after buying an additional 1,245,457 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of CVS Health by 0.3% during the fourth quarter. Legal & General Group Plc now owns 9,309,182 shares of the pharmacy operator’s stock valued at $738,777,000 after acquiring an additional 31,249 shares during the period. Deutsche Bank AG grew its position in shares of CVS Health by 28.4% during the fourth quarter. Deutsche Bank AG now owns 4,666,495 shares of the pharmacy operator’s stock worth $370,333,000 after acquiring an additional 1,031,998 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth about $3,333,000. Institutional investors own 80.66% of the company’s stock.
CVS Health Price Performance
CVS stock opened at $93.01 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $118.96 billion, a PE ratio of 24.61, a P/E/G ratio of 0.85 and a beta of 0.61. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68. The firm has a 50-day moving average of $102.02 and a two-hundred day moving average of $88.86.
CVS Health Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 2.9%. CVS Health’s payout ratio is 70.37%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on CVS shares. TD Cowen boosted their target price on shares of CVS Health from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, May 11th. HSBC reaffirmed a “hold” rating and set a $103.00 price target on shares of CVS Health in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Piper Sandler restated an “overweight” rating and set a $113.00 price objective on shares of CVS Health in a research note on Monday, June 1st. Finally, Truist Financial upped their target price on CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twenty-two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.17.
Read Our Latest Stock Analysis on CVS Health
About CVS Health
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
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