Independence Bank of Kentucky grew its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 6.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,987 shares of the pharmacy operator’s stock after acquiring an additional 597 shares during the period. Independence Bank of Kentucky’s holdings in CVS Health were worth $628,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Oarsman Capital Inc. lifted its position in shares of CVS Health by 5.0% during the fourth quarter. Oarsman Capital Inc. now owns 16,025 shares of the pharmacy operator’s stock worth $1,265,000 after acquiring an additional 756 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of CVS Health during the fourth quarter valued at about $421,000. Taylor Financial Group Inc. purchased a new stake in shares of CVS Health in the fourth quarter worth about $454,000. Voisard Asset Management Group Inc. purchased a new position in CVS Health during the fourth quarter valued at approximately $46,000. Finally, Sunpointe LLC bought a new stake in CVS Health during the 4th quarter worth approximately $322,000. Institutional investors own 80.66% of the company’s stock.
CVS Health Stock Performance
Shares of NYSE:CVS opened at $66.63 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a 50-day moving average price of $59.12 and a 200-day moving average price of $61.15.
CVS Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.
Analysts Set New Price Targets
CVS has been the topic of several research analyst reports. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial raised their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $63.00 to $82.00 in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.26.
Check Out Our Latest Research Report on CVS
CVS Health Profile
CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.
See Also
- Five stocks we like better than CVS Health
- Insider Trades May Not Tell You What You Think
- 3 Micro-Caps Set for Major Moves: Balancing Risk and Opportunity
- What is a Bond Market Holiday? How to Invest and Trade
- Autodesk Named a “Top Pick” by Morgan Stanley—Is It Time to Buy?
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- 4 Quirky ETFs With Big Potential for Impressive Gains
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS – Free Report).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.