Retirement Systems of Alabama decreased its stake in shares of CVS Health Corp (NYSE:CVS) by 42.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 695,490 shares of the pharmacy operator’s stock after selling 519,877 shares during the period. Retirement Systems of Alabama’s holdings in CVS Health were worth $56,557,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Beacon Financial Group raised its stake in CVS Health by 8.0% in the 2nd quarter. Beacon Financial Group now owns 62,775 shares of the pharmacy operator’s stock worth $5,039,000 after purchasing an additional 4,642 shares in the last quarter. Fox Run Management L.L.C. raised its stake in CVS Health by 40.0% in the 2nd quarter. Fox Run Management L.L.C. now owns 6,300 shares of the pharmacy operator’s stock worth $507,000 after purchasing an additional 1,800 shares in the last quarter. Stock Yards Bank & Trust Co. raised its stake in CVS Health by 1.7% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 21,679 shares of the pharmacy operator’s stock worth $1,744,000 after purchasing an additional 370 shares in the last quarter. Factory Mutual Insurance Co. raised its stake in CVS Health by 0.7% in the 2nd quarter. Factory Mutual Insurance Co. now owns 1,415,500 shares of the pharmacy operator’s stock worth $113,892,000 after purchasing an additional 10,000 shares in the last quarter. Finally, BKD Wealth Advisors LLC raised its stake in CVS Health by 6.1% in the 2nd quarter. BKD Wealth Advisors LLC now owns 6,297 shares of the pharmacy operator’s stock worth $507,000 after purchasing an additional 364 shares in the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Robert W. Baird restated a “hold” rating and issued a $77.00 target price on shares of CVS Health in a research report on Friday, October 27th. Mizuho set a $90.00 target price on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Leerink Swann boosted their target price on shares of CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $86.66.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. research analysts anticipate that CVS Health Corp will post 5.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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