Utah Retirement Systems reduced its position in CVS Health Co. (NYSE:CVS) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 251,181 shares of the pharmacy operator’s stock after selling 11,000 shares during the quarter. Utah Retirement Systems’ holdings in CVS Health were worth $18,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of CVS Health by 2.3% in the 1st quarter. BlackRock Inc. now owns 94,562,500 shares of the pharmacy operator’s stock valued at $7,113,937,000 after purchasing an additional 2,084,131 shares during the period. Morgan Stanley lifted its stake in shares of CVS Health by 2.5% in the 1st quarter. Morgan Stanley now owns 24,525,542 shares of the pharmacy operator’s stock valued at $1,845,058,000 after purchasing an additional 590,266 shares during the period. Geode Capital Management LLC raised its position in CVS Health by 2.2% during the first quarter. Geode Capital Management LLC now owns 20,470,812 shares of the pharmacy operator’s stock worth $1,535,702,000 after acquiring an additional 441,924 shares during the period. JPMorgan Chase & Co. raised its position in CVS Health by 39.5% during the first quarter. JPMorgan Chase & Co. now owns 15,873,108 shares of the pharmacy operator’s stock worth $1,194,135,000 after acquiring an additional 4,491,735 shares during the period. Finally, Norges Bank acquired a new position in CVS Health during the fourth quarter worth $964,912,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.
A number of equities analysts have weighed in on CVS shares. Truist upped their price objective on shares of CVS Health from $80.00 to $88.00 in a research report on Wednesday, April 14th. Wolfe Research upped their target price on shares of CVS Health from $82.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 19th. upped their target price on shares of CVS Health from $83.00 to $98.00 in a report on Wednesday, May 5th. Truist Securities upped their target price on shares of CVS Health from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, April 14th. Finally, Royal Bank of Canada upped their target price on shares of CVS Health from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $92.47.
Shares of CVS traded down $0.92 during mid-day trading on Thursday, hitting $82.14. 55,593 shares of the company’s stock were exchanged, compared to its average volume of 4,890,909. The company has a market capitalization of $108.14 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. CVS Health Co. has a fifty-two week low of $55.36 and a fifty-two week high of $90.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.93. The company has a 50-day moving average of $84.54.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, May 4th. The pharmacy operator reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.32. The business had revenue of $69.10 billion for the quarter, compared to analysts’ expectations of $68.33 billion. CVS Health had a net margin of 2.73% and a return on equity of 14.45%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. As a group, research analysts predict that CVS Health Co. will post 7.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Friday, July 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, July 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.43%. CVS Health’s dividend payout ratio is presently 26.67%.
CVS Health Profile
CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.
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