CVS Health Co. (NYSE:CVS) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in shares of CVS Health Co. (NYSE:CVS) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,584,177 shares of the pharmacy operator’s stock after purchasing an additional 354,700 shares during the quarter. CVS Health accounts for 0.8% of State of Michigan Retirement System’s holdings, making the stock its 18th largest holding. State of Michigan Retirement System owned about 0.28% of CVS Health worth $160,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its holdings in CVS Health by 5.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,620 shares of the pharmacy operator’s stock worth $856,000 after buying an additional 676 shares during the last quarter. Van ECK Associates Corp lifted its holdings in CVS Health by 17.2% during the 3rd quarter. Van ECK Associates Corp now owns 516,095 shares of the pharmacy operator’s stock worth $32,452,000 after buying an additional 75,805 shares during the last quarter. Cohen Capital Management Inc. lifted its holdings in CVS Health by 0.8% during the 3rd quarter. Cohen Capital Management Inc. now owns 154,797 shares of the pharmacy operator’s stock worth $9,734,000 after buying an additional 1,200 shares during the last quarter. National Pension Service lifted its holdings in CVS Health by 17.4% during the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock worth $178,793,000 after buying an additional 421,416 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of CVS Health by 9.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 514,093 shares of the pharmacy operator’s stock valued at $32,326,000 after purchasing an additional 46,471 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on CVS shares. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. TD Cowen boosted their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, UBS Group reduced their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Performance

NYSE CVS opened at $64.82 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 business’s 50 day moving average is $54.74 and its two-hundred day moving average is $56.53. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The stock has a market capitalization of $81.72 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Company 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.