CI Investments Inc. Purchases 120,183 Shares of CVS Health Co. (NYSE:CVS)

CI Investments Inc. increased its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 17.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 819,758 shares of the pharmacy operator’s stock after purchasing an additional 120,183 shares during the period. CI Investments Inc. owned about 0.06% of CVS Health worth $75,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVS. Win Advisors Inc. grew its position in CVS Health by 60.1% in the second quarter. Win Advisors Inc. now owns 405 shares of the pharmacy operator’s stock valued at $38,000 after acquiring an additional 152 shares during the period. Rise Advisors LLC grew its position in CVS Health by 28.6% in the second quarter. Rise Advisors LLC now owns 512 shares of the pharmacy operator’s stock valued at $47,000 after acquiring an additional 114 shares during the period. SWS Partners bought a new stake in CVS Health in the first quarter valued at $65,000. San Luis Wealth Advisors LLC acquired a new position in CVS Health in the first quarter worth $67,000. Finally, PYA Waltman Capital LLC acquired a new position in CVS Health in the first quarter worth $68,000. 77.64% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.6 %

Shares of NYSE:CVS traded up $0.55 during mid-day trading on Thursday, reaching $100.06. 3,359,618 shares of the stock were exchanged, compared to its average volume of 7,075,294. The company has a quick ratio of 0.69, a current ratio of 0.94 and a debt-to-equity ratio of 0.72. The company has a market cap of $131.48 billion, a P/E ratio of 42.58, a P/E/G ratio of 1.56 and a beta of 0.69. CVS Health Co. has a one year low of $86.28 and a one year high of $111.25. The stock’s 50 day simple moving average is $96.19 and its 200-day simple moving average is $96.79.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 21st were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.20%. CVS Health’s payout ratio is presently 93.62%.

Analysts Set New Price Targets

CVS has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on CVS Health from $124.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group upped their price target on CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Evercore ISI upped their price target on CVS Health from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. Raymond James cut their price target on CVS Health from $120.00 to $115.00 in a research note on Sunday, November 6th. Finally, Royal Bank of Canada cut their price target on CVS Health from $119.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

CVS Health Profile

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CVS Health Corporation provides health services in the United States. The company's 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.

Further Reading

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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