CVS Health Co. (NYSE:CVS) Stock Position Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in CVS Health Co. (NYSE:CVS) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,164 shares of the pharmacy operator’s stock after selling 31,226 shares during the period. State of Alaska Department of Revenue’s holdings in CVS Health were worth $14,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in CVS Health during the fourth quarter valued at $1,092,040,000. Capital International Investors increased its stake in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the period. Clearbridge Investments LLC increased its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares during the period. Junto Capital Management LP acquired a new stake in CVS Health during the fourth quarter valued at approximately $111,209,000. Finally, International Assets Investment Management LLC boosted its holdings in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

CVS Health Stock Down 1.4 %

CVS Health stock opened at $56.70 on Thursday. The stock has a market cap of $71.18 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.55 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company’s 50-day moving average price is $59.12 and its two-hundred day moving average price is $69.90.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVS shares. Wells Fargo & Company decreased their price objective on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group reduced their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $75.05.

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.