First PREMIER Bank Boosts Position in CVS Health Corp (CVS)
First PREMIER Bank grew its position in shares of CVS Health Corp (NYSE:CVS) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,128 shares of the pharmacy operator’s stock after acquiring an additional 245 shares during the quarter. First PREMIER Bank’s holdings in CVS Health were worth $1,712,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CVS. Tower Research Capital LLC TRC boosted its position in CVS Health by 307.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 34,202 shares of the pharmacy operator’s stock worth $2,201,000 after acquiring an additional 25,799 shares during the last quarter. Banco de Sabadell S.A boosted its position in CVS Health by 52.1% during the 2nd quarter. Banco de Sabadell S.A now owns 47,196 shares of the pharmacy operator’s stock worth $3,071,000 after acquiring an additional 16,169 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in CVS Health by 510.0% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 381,873 shares of the pharmacy operator’s stock worth $24,574,000 after acquiring an additional 319,273 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in CVS Health by 3.3% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 22,523 shares of the pharmacy operator’s stock worth $1,449,000 after acquiring an additional 720 shares during the last quarter. Finally, grace capital acquired a new position in CVS Health during the 2nd quarter worth approximately $483,000. 84.46% of the stock is owned by hedge funds and other institutional investors.
CVS Health stock traded down $0.26 during mid-day trading on Monday, hitting $65.55. 5,192,485 shares of the company’s stock traded hands, compared to its average volume of 10,332,661. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $83.88. The company has a market capitalization of $67.28 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 4th. Shareholders of record on Friday, January 25th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, January 24th. CVS Health’s dividend payout ratio is 33.90%.
A number of equities analysts have weighed in on the company. Barclays assumed coverage on CVS Health in a research report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price target for the company. Leerink Swann assumed coverage on CVS Health in a research report on Tuesday, December 11th. They set an “outperform” rating for the company. Goldman Sachs Group reissued a “neutral” rating and issued a $87.00 price objective on shares of CVS Health in a report on Thursday, November 29th. Argus increased their price objective on CVS Health to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 13th. Finally, ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $91.98.
In other CVS Health news, CFO David M. Denton sold 25,159 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Troyen A. Brennan sold 14,229 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total value of $1,166,778.00. The disclosure for this sale can be found here. Insiders have sold a total of 205,756 shares of company stock valued at $14,668,815 in the last ninety days. Insiders own 0.53% of the company’s stock.
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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