State Street Corp Buys 1,989,066 Shares of CVS Health Co. (NYSE:CVS)

State Street Corp boosted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,527,909 shares of the pharmacy operator's stock after buying an additional 1,989,066 shares during the quarter. State Street Corp owned 4.49% of CVS Health worth $3,554,475,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Pzena Investment Management LLC raised its holdings in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after buying an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after acquiring an additional 304,386 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CVS Health by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator's stock valued at $443,301,000 after acquiring an additional 107,977 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the period. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS traded down $1.59 on Friday, hitting $55.27. The company had a trading volume of 9,628,385 shares, compared to its average volume of 11,275,057. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company's fifty day moving average price is $59.39 and its 200 day moving average price is $58.79. The stock has a market cap of $69.55 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. Equities analysts predict that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. CVS Health's dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVS shares. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a research note on Tuesday. Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial reaffirmed a "buy" rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.50.

About CVS Health

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.