Neuberger Berman Group LLC lessened its stake in CVS Health Corp (NYSE:CVS) by 7.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,596,403 shares of the pharmacy operator’s stock after selling 199,769 shares during the period. Neuberger Berman Group LLC owned about 0.26% of CVS Health worth $211,140,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of CVS. FMR LLC increased its holdings in CVS Health by 22.0% in the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares during the last quarter. Boston Partners increased its holdings in CVS Health by 69.1% in the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after purchasing an additional 2,638,888 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in 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 during the last quarter. Parametric Portfolio Associates LLC increased its holdings in CVS Health by 71.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after purchasing an additional 1,647,168 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in CVS Health by 5,248.2% in the 3rd quarter. Stifel Financial Corp now owns 1,299,244 shares of the pharmacy operator’s stock valued at $105,622,000 after purchasing an additional 1,274,951 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
CVS Health Corp (NYSE:CVS) opened at $69.39 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 1.02. The company has a market cap of $70,291.52, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.16 and a beta of 0.93. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.00.
The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. CVS Health’s payout ratio is currently 30.91%.
Several analysts recently weighed in on CVS shares. Needham & Company LLC lifted their target price on shares of CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 4th. Deutsche Bank started coverage on shares of CVS Health in a report on Monday, December 4th. They issued a “buy” rating and a $90.00 target price for the company. Mizuho set a $90.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Tuesday, October 24th. Cowen set a $86.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Leerink Swann set a $85.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and an average target price of $87.77.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the transaction, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
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About CVS Health
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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