State of Alaska Department of Revenue Has $7.97 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

State of Alaska Department of Revenue lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,468 shares of the pharmacy operator’s stock after selling 9,461 shares during the period. State of Alaska Department of Revenue’s holdings in CVS Health were worth $7,966,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $25,000. Ridgewood Investments LLC increased its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, TD Cowen boosted their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Stock Down 2.7 %

NYSE CVS opened at $54.20 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock has a market capitalization of $68.21 billion, a PE ratio of 13.76, a PEG ratio of 0.62 and a beta of 0.61. The business has a fifty day moving average price of $51.02 and a two-hundred day moving average price of $56.04.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.91%. CVS Health’s dividend payout ratio is currently 67.51%.

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.