California Public Employees Retirement System lifted its holdings in shares of CVS Health Corp (NYSE:CVS) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,516,490 shares of the pharmacy operator’s stock after buying an additional 48,174 shares during the quarter. California Public Employees Retirement System’s holdings in CVS Health were worth $204,641,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in CVS. Horan Capital Advisors LLC. lifted its position in CVS Health by 3.2% in the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after purchasing an additional 1,000 shares during the period. Community Bank N.A. lifted its position in CVS Health by 7.3% in the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. FIL Ltd lifted its position in CVS Health by 13.8% in the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock valued at $41,424,000 after purchasing an additional 62,318 shares during the period. Midwest Investment Management LLC lifted its position in CVS Health by 6.2% in the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after purchasing an additional 1,245 shares during the period. Finally, ETRADE Capital Management LLC lifted its position in CVS Health by 3.7% in the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after purchasing an additional 1,979 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.
Shares of CVS Health Corp (NYSE:CVS) opened at $69.39 on Friday. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 1.02. The stock has a market cap of $70,290.00, a P/E ratio of 11.76, a PEG ratio of 1.18 and a beta of 0.92.
The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. CVS Health’s payout ratio is 33.90%.
In other 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 completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by company insiders.
A number of equities research analysts recently commented on CVS shares. Robert W. Baird restated a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a research report on Friday, October 27th. Needham & Company LLC upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.02 to $79.00 in a research report on Friday, November 10th. Deutsche Bank restated a “hold” rating on shares of CVS Health in a research report on Tuesday, December 5th. Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Raymond James Financial restated a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $87.77.
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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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