Securian Asset Management Inc. lessened its holdings in CVS Health Co. (NYSE:CVS – Free Report) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,184 shares of the pharmacy operator’s stock after selling 1,937 shares during the period. Securian Asset Management Inc.’s holdings in CVS Health were worth $4,263,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health in the fourth quarter worth about $218,000. Canoe Financial LP boosted its stake in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after acquiring an additional 859,134 shares during the last quarter. Meritage Portfolio Management boosted its stake in CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after acquiring an additional 15,548 shares during the last quarter. Steph & Co. boosted its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Forum Financial Management LP boosted its stake in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
CVS Health Stock Performance
Shares of CVS traded down $1.17 during trading hours on Monday, hitting $55.94. The company’s stock had a trading volume of 4,450,623 shares, compared to its average volume of 11,500,823. The company has a market cap of $70.23 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The business has a 50 day simple moving average of $59.45 and a two-hundred day simple moving average of $66.14. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.76%. CVS Health’s dividend payout ratio is currently 46.75%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CVS. Robert W. Baird began coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. SVB Leerink reiterated a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.24.
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.
Recommended Stories
- Five stocks we like better than CVS Health
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- How to Invest in Silver: A Beginner’s Guide
- When to Sell a Stock for Profit or Loss
- Monday.com’s Stock Results Will Brighten Any Investor’s Week
- The Risks of Owning Bonds
- 3 Must-Watch Stocks After a Bullish Goldman Sachs Recommendation
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.