Alpha Omega Wealth Management LLC lessened its stake in shares of CVS Health Corp (NYSE:CVS) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 44,356 shares of the pharmacy operator’s stock after selling 4,298 shares during the period. CVS Health makes up approximately 1.5% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 24th largest holding. Alpha Omega Wealth Management LLC’s holdings in CVS Health were worth $2,906,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in CVS Health in the 3rd quarter valued at $1,190,694,000. Capital International Investors grew its position in CVS Health by 5,579.8% in the 3rd quarter. Capital International Investors now owns 9,161,488 shares of the pharmacy operator’s stock valued at $721,192,000 after acquiring an additional 9,000,188 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at $204,536,000. BlackRock Inc. grew its position in shares of CVS Health by 2.8% during the 3rd quarter. BlackRock Inc. now owns 76,197,017 shares of the pharmacy operator’s stock worth $5,998,231,000 after buying an additional 2,061,915 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of CVS Health by 15.9% during 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 buying an additional 1,721,683 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.
Shares of CVS stock opened at $65.01 on Monday. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $82.15. The stock has a market cap of $66.23 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.88 and a beta of 1.03. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 4th. Investors of record on Friday, January 25th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, January 24th. CVS Health’s payout ratio is currently 33.90%.
In related news, EVP Troyen A. Brennan sold 14,229 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total transaction of $1,166,778.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $11,486,046.72. Following the sale, the insider now directly owns 496,577 shares in the company, valued at approximately $34,283,676.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 449,763 shares of company stock worth $30,412,036. 0.53% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on CVS shares. Royal Bank of Canada set a $99.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Wolfe Research started coverage on CVS Health in a research report on Thursday, October 25th. They set a “peer perform” rating on the stock. Tigress Financial reissued a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Morgan Stanley set a $100.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average price target of $91.79.
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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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