New Mexico Educational Retirement Board Has $2.69 Million Position in CVS Health Co. (NYSE:CVS)

New Mexico Educational Retirement Board cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,977 shares of the pharmacy operator’s stock after selling 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in CVS Health were worth $2,692,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. increased its holdings in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wolfe Research upped their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday. Truist Financial upped their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Four equities research 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.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $70.28.

CVS Health Price Performance

Shares of CVS stock opened at $65.71 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The business has a fifty day simple moving average of $51.11 and a 200 day simple moving average of $56.08.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, sell-side analysts forecast that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. CVS Health’s payout ratio is 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.