Versant Capital Management Inc decreased its holdings in CVS Health Corp (NYSE:CVS) by 37.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 897 shares of the pharmacy operator’s stock after selling 537 shares during the quarter. Versant Capital Management Inc’s holdings in CVS Health were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in CVS. Bell Rock Capital LLC grew its position in shares of CVS Health by 764.0% in the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares during the last quarter. Bay Harbor Wealth Management LLC grew its position in shares of CVS Health by 1,871.4% in the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 524 shares during the last quarter. Acima Private Wealth LLC acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $33,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $39,000. Finally, Somerset Trust Co grew its position in shares of CVS Health by 152.7% in the first quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock valued at $41,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.
Shares of NYSE:CVS opened at $53.07 on Friday. The company has a market cap of $68.94 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.05 and a beta of 0.93. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
In other CVS Health news, Director David W. Dorman bought 9,600 shares of the business’s stock in a transaction on Friday, March 8th. The stock was purchased at an average cost of $52.71 per share, for a total transaction of $506,016.00. Following the completion of the purchase, the director now directly owns 122,302 shares of the company’s stock, valued at $6,446,538.42. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director C David Brown II bought 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $53.18 per share, with a total value of $531,800.00. Following the completion of the purchase, the director now directly owns 16,222 shares of the company’s stock, valued at $862,685.96. The disclosure for this purchase can be found here. Insiders have purchased 23,600 shares of company stock worth $1,270,896 in the last three months. 0.53% of the stock is currently owned by company insiders.
CVS has been the topic of several research reports. Citigroup set a $74.00 target price on CVS Health and gave the company a “buy” rating in a research report on Thursday, May 2nd. Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, February 25th. Sanford C. Bernstein initiated coverage on CVS Health in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $76.00 target price on the stock. Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $104.00 to $68.00 in a research report on Wednesday, February 20th. Finally, Credit Suisse Group downgraded CVS Health from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $73.00 to $61.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $77.62.
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About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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