Madison Investment Holdings Inc. trimmed its stake in CVS Health (NYSE:CVS) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,146 shares of the pharmacy operator’s stock after selling 15,479 shares during the period. Madison Investment Holdings Inc.’s holdings in CVS Health were worth $14,148,000 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 the business. BlackRock Inc. raised its holdings in shares of CVS Health by 3.8% in the 4th quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock valued at $4,857,249,000 after purchasing an additional 2,430,476 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after purchasing an additional 430,377 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CVS Health by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after purchasing an additional 126,183 shares in the last quarter. Veritas Asset Management LLP raised its holdings in shares of CVS Health by 2.8% in the 3rd quarter. Veritas Asset Management LLP now owns 8,674,524 shares of the pharmacy operator’s stock valued at $705,412,000 after purchasing an additional 235,960 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of CVS Health by 30.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after purchasing an additional 1,849,593 shares in the last quarter. 83.97% of the stock is owned by institutional investors.
Shares of CVS Health stock opened at $66.10 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59. CVS Health has a 12-month low of $60.14 and a 12-month high of $84.00. The company has a market cap of $64,351.77, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.05 and a beta of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.03%. CVS Health’s payout ratio is 33.90%.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 65,072 shares in the company, valued at approximately $4,622,714.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.
Several equities research analysts have recently commented on CVS shares. Robert W. Baird reduced their price target on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, February 9th. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Vetr lowered shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target for the company. in a report on Thursday, January 4th. UBS upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a report on Thursday, January 4th. Finally, Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $88.00 to $100.00 in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $86.65.
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CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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