Tokio Marine Asset Management Co. Ltd. trimmed its holdings in CVS Health Corp (NYSE:CVS) by 26.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,631 shares of the pharmacy operator’s stock after selling 2,708 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in CVS Health were worth $621,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CVS. BP PLC raised its holdings in CVS Health by 14.6% during the 3rd quarter. BP PLC now owns 118,000 shares of the pharmacy operator’s stock worth $9,595,000 after purchasing an additional 15,000 shares during the last quarter. Hallmark Capital Management Inc. raised its holdings in CVS Health by 2.1% during the 3rd quarter. Hallmark Capital Management Inc. now owns 198,037 shares of the pharmacy operator’s stock worth $16,104,000 after purchasing an additional 4,015 shares during the last quarter. Northwest Investment Counselors LLC raised its holdings in CVS Health by 19,355.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 19,455 shares of the pharmacy operator’s stock worth $1,582,000 after purchasing an additional 19,355 shares during the last quarter. Wright Investors Service Inc. raised its holdings in CVS Health by 317.8% during the 3rd quarter. Wright Investors Service Inc. now owns 32,861 shares of the pharmacy operator’s stock worth $2,672,000 after purchasing an additional 24,995 shares during the last quarter. Finally, Brightworth bought a new stake in CVS Health during the 3rd quarter worth about $280,000. 81.63% of the stock is owned by institutional investors and hedge funds.
CVS Health Corp (NYSE CVS) opened at $73.52 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.72. The stock has a market capitalization of $73,441.92, a P/E ratio of 15.19, a P/E/G ratio of 1.28 and a beta of 0.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.72%. CVS Health’s dividend payout ratio is presently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.
Several brokerages have weighed in on CVS. Needham & Company LLC boosted their price objective on CVS Health from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada assumed coverage on CVS Health in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. Jefferies Group boosted their target price on CVS Health from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Robert W. Baird restated a “hold” rating and set a $77.00 target price on shares of CVS Health in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus price target of $86.51.
CVS Health Company Profile
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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