Allegis Investment Advisors LLC raised its stake in CVS Health Corp (NYSE:CVS) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,817 shares of the pharmacy operator’s stock after buying an additional 2,569 shares during the period. Allegis Investment Advisors LLC’s holdings in CVS Health were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in CVS. Beach Investment Management LLC. bought a new position in shares of CVS Health during the 2nd quarter worth approximately $2,224,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of CVS Health by 5.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 186,632 shares of the pharmacy operator’s stock worth $15,016,000 after acquiring an additional 10,338 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of CVS Health by 47.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 97,791 shares of the pharmacy operator’s stock worth $7,868,000 after acquiring an additional 31,510 shares in the last quarter. Oarsman Capital Inc. raised its stake in shares of CVS Health by 7.0% during the 2nd quarter. Oarsman Capital Inc. now owns 39,393 shares of the pharmacy operator’s stock worth $3,170,000 after acquiring an additional 2,582 shares in the last quarter. Finally, Symphony Asset Management LLC bought a new position in shares of CVS Health during the 2nd quarter worth approximately $1,306,000. 83.96% of the stock is owned by institutional investors.
Shares of CVS Health stock opened at $60.86 on Friday. CVS Health Corp has a twelve month low of $60.78 and a twelve month high of $84.00. The stock has a market cap of $62,687.93, a price-to-earnings ratio of 9.41, a P/E/G ratio of 1.01 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 30.91%.
Several research analysts recently commented on the stock. Needham & Company LLC set a $98.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Friday, February 9th. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Leerink Swann set a $85.00 price target on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Loop Capital set a $73.00 price target on shares of CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Finally, Deutsche Bank restated a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $87.03.
In related news, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the sale, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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