CVS Health Corp (CVS) Shares Bought by Elefante Mark B
Elefante Mark B grew its position in CVS Health Corp (NYSE:CVS) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,301 shares of the pharmacy operator’s stock after acquiring an additional 350 shares during the quarter. CVS Health comprises approximately 2.0% of Elefante Mark B’s portfolio, making the stock its 23rd biggest position. Elefante Mark B’s holdings in CVS Health were worth $413,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of CVS Health by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after acquiring an additional 1,721,683 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of CVS Health in the 3rd quarter worth about $387,000. Douglas Lane & Associates LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth about $252,000. Investment House LLC raised its holdings in shares of CVS Health by 12.2% in the 3rd quarter. Investment House LLC now owns 26,835 shares of the pharmacy operator’s stock worth $2,112,000 after acquiring an additional 2,910 shares during the last quarter. Finally, We Are One Seven LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth about $650,000. 84.48% of the stock is owned by institutional investors and hedge funds.
NYSE:CVS opened at $65.22 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $66.45 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.88 and a beta of 1.03. CVS Health Corp has a 52 week low of $60.14 and a 52 week high of $82.15.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Shareholders of record on Friday, January 25th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 24th. This represents a $2.00 annualized dividend and a yield of 3.07%. CVS Health’s dividend payout ratio (DPR) is 33.90%.
A number of research firms recently weighed in on CVS. Leerink Swann upped their target price on shares of CVS Health from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, November 8th. Morgan Stanley set a $100.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, November 7th. Wolfe Research began coverage on shares of CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating on the stock. Goldman Sachs Group restated a “neutral” rating and issued a $87.00 target price on shares of CVS Health in a report on Thursday, November 29th. Finally, Royal Bank of Canada set a $99.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.44.
In other CVS Health news, CFO David M. Denton sold 25,159 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the sale, the chief financial officer now owns 403 shares in the company, valued at approximately $32,292.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Larry J. Merlo sold 166,368 shares of the stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $69.04, for a total transaction of $11,486,046.72. Following the completion of the sale, the insider now owns 496,577 shares of the company’s stock, valued at approximately $34,283,676.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,756 shares of company stock valued at $14,668,815. Company insiders own 0.53% of the company’s stock.
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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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