BLB&B Advisors LLC lowered its stake in CVS Health Co. (NYSE:CVS – Free Report) by 79.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,711 shares of the pharmacy operator’s stock after selling 26,713 shares during the period. BLB&B Advisors LLC’s holdings in CVS Health were worth $422,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter valued at $31,000. First Community Trust NA lifted its stake in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter worth approximately $33,000. ORG Partners LLC raised its holdings in shares of CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in shares of CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
CVS Health Stock Down 0.1 %
Shares of CVS stock opened at $56.78 on Thursday. The company has a market capitalization of $71.28 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock’s 50 day simple moving average is $59.88 and its 200 day simple moving average is $60.17. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.
Wall Street Analyst Weigh In
Several analysts have issued reports on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $74.89.
Get Our Latest Stock Report on CVS
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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