Ferris Capital LLC increased its stake in CVS Health Corp (NYSE:CVS) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,940 shares of the pharmacy operator’s stock after acquiring an additional 2,767 shares during the quarter. Ferris Capital LLC’s holdings in CVS Health were worth $1,333,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVS. 1 North Wealth Services LLC bought a new stake in CVS Health in the third quarter worth approximately $29,000. Manchester Financial Inc. bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $35,000. Gradient Investments LLC increased its holdings in shares of CVS Health by 78.3% during the third quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 271 shares in the last quarter. Cordasco Financial Network bought a new stake in shares of CVS Health during the third quarter valued at approximately $44,000. Finally, Allred Capital Management LLC bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $55,000. 76.67% of the stock is currently owned by institutional investors.
Shares of NYSE:CVS opened at $73.53 on Friday. The stock has a market cap of $96.28 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.58 and a beta of 0.89. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $77.03. The business’s 50 day moving average is $74.15 and its 200 day moving average is $66.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 annualized dividend and a yield of 2.72%. CVS Health’s dividend payout ratio is currently 28.25%.
In other CVS Health news, EVP Karen S. Lynch sold 80,143 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the transaction, the executive vice president now owns 41,831 shares of the company’s stock, valued at $3,137,325. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the transaction, the chief executive officer now directly owns 703,497 shares in the company, valued at approximately $52,614,540.63. The disclosure for this sale can be found here. In the last three months, insiders sold 427,786 shares of company stock worth $31,726,338. Insiders own 0.53% of the company’s stock.
Several research firms have recently commented on CVS. Raymond James restated a “strong-buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of CVS Health in a report on Wednesday, December 4th. Mizuho boosted their price objective on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Citigroup boosted their price objective on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. Finally, UBS Group restated a “buy” rating and set a $78.00 price objective on shares of CVS Health in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.43.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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