Retirement Systems of Alabama Sells 1,427 Shares of CVS Health Co. (NYSE:CVS)

Retirement Systems of Alabama decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 272,457 shares of the pharmacy operator’s stock after selling 1,427 shares during the quarter. Retirement Systems of Alabama’s holdings in CVS Health were worth $12,231,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVS. Sound Income Strategies LLC raised its holdings in CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after acquiring an additional 200 shares during the last quarter. Widmann Financial Services Inc. increased its holdings in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares in the last quarter. DT Investment Partners LLC raised its stake in shares of CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after purchasing an additional 202 shares during the last quarter. Finally, United Asset Strategies Inc. boosted its position in shares of CVS Health by 2.4% during the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock valued at $580,000 after buying an additional 212 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVS. Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Price Performance

CVS Health stock opened at $53.95 on Friday. The firm’s fifty day moving average is $50.90 and its 200 day moving average is $56.02. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market cap of $67.90 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.