CVS Health Co. (NYSE:CVS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in CVS Health Co. (NYSE:CVS) by 16.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,929 shares of the pharmacy operator’s stock after selling 37,690 shares during the quarter. State of Alaska Department of Revenue’s holdings in CVS Health were worth $11,753,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVS. Cornerstone Wealth Group LLC purchased a new position in CVS Health in the 1st quarter worth $207,000. LVW Advisors LLC purchased a new position in CVS Health in the 1st quarter worth $316,000. Aviance Capital Partners LLC raised its stake in CVS Health by 6.5% in the 1st quarter. Aviance Capital Partners LLC now owns 11,669 shares of the pharmacy operator’s stock worth $931,000 after acquiring an additional 710 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in CVS Health by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 19,133 shares of the pharmacy operator’s stock worth $1,526,000 after acquiring an additional 306 shares during the last quarter. Finally, Claro Advisors LLC raised its stake in CVS Health by 12.2% in the 1st quarter. Claro Advisors LLC now owns 9,172 shares of the pharmacy operator’s stock worth $732,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVS shares. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Barclays reduced their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Trading Up 0.7 %

Shares of CVS Health stock opened at $56.49 on Monday. The stock has a market cap of $70.92 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.84 and a beta of 0.54. The stock’s 50 day simple moving average is $59.82 and its 200-day simple moving average is $59.84. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. Analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

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 issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

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.