Kentucky Retirement Systems Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Kentucky Retirement Systems trimmed its position in CVS Health Co. (NYSE:CVS) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,447 shares of the pharmacy operator’s stock after selling 1,191 shares during the period. Kentucky Retirement Systems’ holdings in CVS Health were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $32,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $63.42 on Friday. The stock has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.99 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm’s 50-day moving average is $52.39 and its two-hundred day moving average is $56.23.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities analysts predict that CVS Health Co. will post 5.9 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Wolfe Research upped their price target on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

CVS Health Profile

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.