Sun Sep 15 16:36:47 UTC 2024: ## CVS Health Sees Mixed Investor Activity: Oppenheimer & Co. Sells Shares, While Others Buy

**New York, NY (MarketBeat News) -** CVS Health Co. (NYSE:CVS) saw a range of activity from institutional investors in the second quarter, with some increasing their holdings while others, like Oppenheimer & Co. Inc., reduced their stakes.

Oppenheimer & Co. Inc. decreased its CVS Health holdings by 30% in the second quarter, selling 40,502 shares, leaving them with 94,523 shares worth $5,583,000.

However, several other hedge funds showed confidence in CVS Health. Vanguard Group Inc. increased its stake by 0.5%, now owning 117,696,285 shares worth $9,293,299,000. Capital World Investors also grew its holdings by 8%, acquiring 3,232,172 shares and now owning 43,776,874 shares.

Other notable investors included Capital International Investors, who raised their stake by 12.5%, Norges Bank who bought a new position, and Capital Research Global Investors who increased their holdings by 1.4%.

Overall, institutional investors currently own 80.66% of CVS Health stock.

CVS Health shares opened at $57.98 on Friday. The firm’s 50-day moving average is $58.28 and its 200-day moving average is $63.08. The company has a market cap of $72.94 billion, a PE ratio of 10.19, a P/E/G ratio of 0.79, and a beta of 0.53.

CVS Health also recently disclosed a quarterly dividend of $0.665 per share, representing a $2.66 annualized dividend and a yield of 4.59%.

Analysts have mixed opinions on CVS Health. Royal Bank of Canada reiterated an “outperform” rating with a $68.00 target price, while Wells Fargo & Company raised their target price to $61.00 and gave an “equal weight” rating. Deutsche Bank Aktiengesellschaft reduced their target price to $63.00 and issued a “hold” rating.

Overall, CVS Health has a consensus rating of “Moderate Buy” with an average price target of $72.10, according to MarketBeat.com.

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