PFG Advisors trimmed its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,117 shares of the pharmacy operator’s stock after selling 196 shares during the quarter. PFG Advisors’ holdings in CVS Health were worth $306,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new stake in shares of CVS Health during the fourth quarter worth $25,000. Godsey & Gibb Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $28,000. VitalStone Financial LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $28,000. Castleview Partners LLC increased its position in shares of CVS Health by 227.8% during the fourth quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 221 shares during the period. Finally, Mendota Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $31,000. 76.96% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Price Performance
CVS Health stock opened at $69.17 on Friday. The company’s 50 day moving average price is $69.45 and its two-hundred day moving average price is $78.37. The stock has a market cap of $88.68 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.27 and a beta of 0.62. CVS Health Co. has a 52 week low of $66.34 and a 52 week high of $107.26. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 0.79.
CVS Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st will be issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 3.50%. CVS Health’s payout ratio is currently 79.87%.
Insider Transactions at CVS Health
In other CVS Health news, CEO Karen S. Lynch purchased 14,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $69.75 per share, for a total transaction of $976,500.00. Following the completion of the transaction, the chief executive officer now directly owns 431,392 shares in the company, valued at approximately $30,089,592. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CVS. Barclays decreased their price objective on shares of CVS Health from $100.00 to $90.00 in a research report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CVS Health in a report on Monday, April 10th. They issued a “hold” rating for the company. TheStreet cut shares of CVS Health from a “b” rating to a “c” rating in a report on Wednesday, May 3rd. Credit Suisse Group reduced their price target on shares of CVS Health from $125.00 to $96.00 in a report on Monday, May 8th. Finally, 92 Resources restated a “maintains” rating on shares of CVS Health in a report on Monday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.84.
About CVS Health
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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