Cornerstone Planning Group LLC Acquires 243 Shares of CVS Health Co. (NYSE:CVS)

Cornerstone Planning Group LLC boosted its stake in CVS Health Co. (NYSE:CVSFree Report) by 111.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461 shares of the pharmacy operator’s stock after purchasing an additional 243 shares during the period. Cornerstone Planning Group LLC’s holdings in CVS Health were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its stake in CVS Health by 1.6% in the 2nd quarter. State Street Corp now owns 55,877,387 shares of the pharmacy operator’s stock valued at $3,862,804,000 after purchasing an additional 855,269 shares during the last quarter. Morgan Stanley increased its position in CVS Health by 10.9% in the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares during the period. Geode Capital Management LLC increased its position in CVS Health by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 23,325,287 shares of the pharmacy operator’s stock valued at $1,607,886,000 after acquiring an additional 363,384 shares during the period. Moneta Group Investment Advisors LLC increased its position in CVS Health by 103,371.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares during the period. Finally, Norges Bank acquired a new position in CVS Health in the 4th quarter valued at approximately $1,425,416,000. Institutional investors own 75.99% of the company’s stock.

CVS Health Stock Up 0.4 %

CVS opened at $72.71 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.64. The company’s 50-day moving average is $75.45 and its 200 day moving average is $71.99. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $90.62. The firm has a market capitalization of $93.57 billion, a P/E ratio of 10.93, a PEG ratio of 2.03 and a beta of 0.50.

CVS Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Monday, January 22nd were given a dividend of $0.665 per share. This is a positive change from CVS Health’s previous quarterly dividend of $0.61. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, January 19th. CVS Health’s dividend payout ratio (DPR) is presently 40.12%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Royal Bank of Canada decreased their price objective on shares of CVS Health from $91.00 to $86.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Sanford C. Bernstein reduced their price target on shares of CVS Health from $93.00 to $80.00 in a report on Tuesday, October 10th. Finally, TheStreet upgraded shares of CVS Health from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Get Our Latest Analysis on CVS

CVS Health Company Profile

(Free Report)

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The 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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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