Treasurer of the State of North Carolina Sells 1,914 Shares of CVS Health Co. (NYSE:CVS)

Treasurer of the State of North Carolina lessened its position in CVS Health Co. (NYSE:CVS – Get Rating) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 581,443 shares of the pharmacy operator’s stock after selling 1,914 shares during the period. Treasurer of the State of North Carolina’s holdings in CVS Health were worth $55,452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVS. BRYN MAWR TRUST Co boosted its stake in shares of CVS Health by 1.5% during the second quarter. BRYN MAWR TRUST Co now owns 6,459 shares of the pharmacy operator’s stock worth $598,000 after buying an additional 98 shares during the period. Cobblestone Capital Advisors LLC NY increased its holdings in CVS Health by 3.3% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 3,136 shares of the pharmacy operator’s stock valued at $299,000 after buying an additional 100 shares in the last quarter. Tortoise Investment Management LLC raised its position in CVS Health by 6.3% during the second quarter. Tortoise Investment Management LLC now owns 1,714 shares of the pharmacy operator’s stock worth $159,000 after acquiring an additional 102 shares during the last quarter. IFG Advisors LLC lifted its position in shares of CVS Health by 4.0% in the third quarter. IFG Advisors LLC now owns 2,667 shares of the pharmacy operator’s stock valued at $254,000 after acquiring an additional 102 shares in the last quarter. Finally, First National Trust Co raised its position in shares of CVS Health by 2.9% in the third quarter. First National Trust Co now owns 3,640 shares of the pharmacy operator’s stock valued at $347,000 after buying an additional 104 shares during the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CVS. StockNews.com initiated coverage on shares of CVS Health in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Wells Fargo & Company dropped their price target on CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 3rd. Raymond James reduced their price target on shares of CVS Health from $120.00 to $115.00 in a research report on Sunday, November 6th. The Goldman Sachs Group cut their price objective on CVS Health from $128.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, Bank of America decreased their price target on CVS Health from $122.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, October 20th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $119.13.

CVS Health Stock Performance

Shares of CVS opened at $87.83 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.69 and a current ratio of 0.94. CVS Health Co. has a 1 year low of $84.82 and a 1 year high of $111.25. The firm has a fifty day moving average of $94.34 and a 200-day moving average of $96.70. The company has a market cap of $115.41 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71.

CVS Health (NYSE:CVS – Get Rating) last posted its earnings results on Wednesday, November 2nd. The pharmacy operator reported $2.09 EPS for the quarter, topping the consensus estimate of $1.99 by $0.10. The firm had revenue of $81.16 billion during the quarter, compared to analysts’ expectations of $76.53 billion. CVS Health had a net margin of 1.00% and a return on equity of 15.56%. As a group, equities analysts anticipate that CVS Health Co. will post 8.63 earnings per share for the current year.

CVS Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 20th will be paid a dividend of $0.605 per share. The ex-dividend date is Thursday, January 19th. This represents a $2.42 annualized dividend and a yield of 2.76%. This is an increase from CVS Health’s previous quarterly dividend of $0.55. CVS Health’s payout ratio is presently 102.98%.

Insider Transactions at CVS Health

In related news, EVP Thomas M. Moriarty sold 137,466 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $98.36, for a total value of $13,521,155.76. Following the completion of the sale, the executive vice president now owns 608,129 shares of the company’s stock, valued at $59,815,568.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

CVS Health Profile

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CVS Health Corp. engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long-Term Care segment includes the sale of prescription drugs and an assortment of health and wellness products, and general merchandise.