State of Alaska Department of Revenue Sells 9,461 Shares of CVS Health Co. (NYSE:CVS)

State of Alaska Department of Revenue trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 177,468 shares of the pharmacy operator’s stock after selling 9,461 shares during the quarter. State of Alaska Department of Revenue’s holdings in CVS Health were worth $7,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its position in shares of CVS Health by 124.1% during the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after acquiring an additional 34,198 shares during the last quarter. Czech National Bank raised its holdings in CVS Health by 7.2% during the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after purchasing an additional 17,206 shares during the last quarter. Brookstone Capital Management lifted its position in shares of CVS Health by 4.6% in the 3rd quarter. Brookstone Capital Management now owns 62,589 shares of the pharmacy operator’s stock worth $3,936,000 after purchasing an additional 2,764 shares during the period. CWM LLC increased its position in shares of CVS Health by 14.1% during the third quarter. CWM LLC now owns 76,241 shares of the pharmacy operator’s stock worth $4,794,000 after buying an additional 9,435 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CVS shares. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

CVS opened at $54.20 on Friday. The firm’s fifty day moving average price is $51.02 and its two-hundred day moving average price is $56.04. The company has a market capitalization of $68.21 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 0.62 and a beta of 0.61. 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 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate 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 net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. As a group, analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed 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 of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.91%. CVS Health’s dividend payout ratio is currently 67.51%.

About CVS Health

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.