Alps Advisors Inc. boosted its position in shares of CVS Health Co. (NYSE:CVS – Get Rating) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,299 shares of the pharmacy operator’s stock after buying an additional 380 shares during the quarter. Alps Advisors Inc.’s holdings in CVS Health were worth $306,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Win Advisors Inc. boosted its position in shares of CVS Health by 60.1% in the 2nd quarter. Win Advisors Inc. now owns 405 shares of the pharmacy operator’s stock valued at $38,000 after purchasing an additional 152 shares during the period. Carl Stuart Investment Advisor Inc. acquired a new position in shares of CVS Health in the 1st quarter valued at $41,000. Rise Advisors LLC boosted its position in shares of CVS Health by 28.6% in the 2nd quarter. Rise Advisors LLC now owns 512 shares of the pharmacy operator’s stock valued at $47,000 after purchasing an additional 114 shares during the period. SWS Partners acquired a new stake in CVS Health during the 1st quarter worth about $65,000. Finally, San Luis Wealth Advisors LLC acquired a new stake in CVS Health during the 1st quarter worth about $67,000. Institutional investors and hedge funds own 77.64% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on CVS. Mizuho raised their price objective on CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Tigress Financial raised their price target on CVS Health from $125.00 to $130.00 in a research note on Wednesday, August 17th. Wells Fargo & Company cut their price target on CVS Health from $111.00 to $106.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 8th. Royal Bank of Canada cut their price target on CVS Health from $119.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 7th. Finally, Credit Suisse Group raised their price target on CVS Health from $117.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $118.24.
CVS Health Stock Performance
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 21st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, October 20th. CVS Health’s payout ratio is presently 93.62%.
About CVS Health
CVS Health Corporation provides health services in the United States. The company's 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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