Investment Management of Virginia LLC Has $4.85 Million Stake in CVS Health Corp (CVS)
Investment Management of Virginia LLC trimmed its position in CVS Health Corp (NYSE:CVS) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 74,070 shares of the pharmacy operator’s stock after selling 5,000 shares during the period. CVS Health accounts for approximately 1.3% of Investment Management of Virginia LLC’s holdings, making the stock its 25th largest position. Investment Management of Virginia LLC’s holdings in CVS Health were worth $4,853,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC grew its position in CVS Health by 19.6% during the 4th quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock worth $57,000 after purchasing an additional 156 shares during the last quarter. Clarus Wealth Advisors grew its position in CVS Health by 6.9% during the 4th quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock worth $161,000 after purchasing an additional 158 shares during the last quarter. Griffin Asset Management Inc. grew its position in CVS Health by 1.4% during the 3rd quarter. Griffin Asset Management Inc. now owns 11,438 shares of the pharmacy operator’s stock worth $900,000 after purchasing an additional 160 shares during the last quarter. Adviser Investments LLC grew its position in CVS Health by 5.4% during the 4th quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock worth $207,000 after purchasing an additional 162 shares during the last quarter. Finally, Visionary Asset Management Inc. grew its position in CVS Health by 3.8% during the 4th quarter. Visionary Asset Management Inc. now owns 4,911 shares of the pharmacy operator’s stock worth $322,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.
Shares of NYSE:CVS opened at $55.60 on Friday. The stock has a market capitalization of $70.89 billion, a PE ratio of 7.85, a PEG ratio of 1.06 and a beta of 0.95. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22. CVS Health Corp has a fifty-two week low of $51.93 and a fifty-two week high of $82.15.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 28.25%.
In related news, SVP James David Clark sold 1,664 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now owns 8,557 shares in the company, valued at $497,503.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 166,368 shares of the firm’s 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 purchased 23,600 shares of company stock valued at $1,270,896 and sold 412,039 shares valued at $27,326,012. 0.53% of the stock is owned by company insiders.
Several brokerages have issued reports on CVS. Barclays began coverage on shares of CVS Health in a research report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price objective on the stock. UBS Group lowered their target price on shares of CVS Health from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, February 21st. Leerink Swann began coverage on shares of CVS Health in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $87.00 target price on shares of CVS Health in a report on Thursday, November 29th. Finally, Citigroup lowered their target price on shares of CVS Health from $94.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.18.
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CVS Health Company 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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