Cetera Trust Company N.A lessened its holdings in CVS Health Co. (NYSE:CVS – Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,043 shares of the pharmacy operator’s stock after selling 1,190 shares during the period. Cetera Trust Company N.A’s holdings in CVS Health were worth $1,072,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Capital International Investors grew its position in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital World Investors increased its stake in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. State of Michigan Retirement System lifted its position in CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of CVS Health during the 1st quarter valued at $110,816,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.
CVS Health Stock Performance
Shares of NYSE CVS traded down $1.03 during trading hours on Tuesday, hitting $57.14. 3,901,572 shares of the company’s stock were exchanged, compared to its average volume of 11,202,447. The stock has a market capitalization of $71.73 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.93 and a beta of 0.54. The company’s 50-day moving average price is $59.85 and its 200-day moving average price is $60.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.
CVS Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.
Analysts Set New Price Targets
Several analysts recently issued reports on CVS shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.26.
Check Out Our Latest Analysis 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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