California Public Employees Retirement System Has $113.87 Million Holdings in CVS Health Co. (NYSE:CVS)

California Public Employees Retirement System lowered its holdings in CVS Health Co. (NYSE:CVS) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,536,676 shares of the pharmacy operator’s stock after selling 130,648 shares during the period. California Public Employees Retirement System owned about 0.20% of CVS Health worth $113,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new position in CVS Health during the fourth quarter valued at approximately $3,648,000. Allstate Corp bought a new stake in shares of CVS Health during the 4th quarter worth approximately $1,680,000. DnB Asset Management AS boosted its holdings in shares of CVS Health by 5.5% in the 4th quarter. DnB Asset Management AS now owns 219,374 shares of the pharmacy operator’s stock valued at $9,848,000 after buying an additional 11,483 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of CVS Health by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,494,378 shares of the pharmacy operator’s stock valued at $67,083,000 after buying an additional 51,652 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in CVS Health during the fourth quarter worth $3,351,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVS shares. UBS Group decreased their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial upped their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays lifted their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Argus set a $77.00 price target on CVS Health in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Up 1.0 %

NYSE CVS opened at $67.79 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market cap of $85.46 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.98 and a beta of 0.54. The company has a 50 day moving average of $62.42 and a 200-day moving average of $57.76. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $79.98.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company 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.