State of Tennessee Department of Treasury Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

State of Tennessee Department of Treasury lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 477,251 shares of the pharmacy operator's stock after buying an additional 21,251 shares during the period. State of Tennessee Department of Treasury's holdings in CVS Health were worth $21,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc purchased a new stake in shares of CVS Health during the third quarter worth about $409,000. Westside Investment Management Inc. raised its position in CVS Health by 4.6% during the 3rd quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator's stock valued at $4,041,000 after purchasing an additional 2,856 shares during the last quarter. World Investment Advisors LLC lifted its holdings in CVS Health by 280.7% in the 3rd quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator's stock worth $1,732,000 after buying an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $2,071,000. Finally, Tidal Investments LLC raised its holdings in shares of CVS Health by 52.2% during the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator's stock valued at $7,043,000 after acquiring an additional 38,408 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.4 %

CVS stock opened at $65.40 on Wednesday. The stock has a market capitalization of $82.46 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $71.45. The business has a fifty day moving average price of $66.48 and a 200-day moving average price of $58.77.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.07%. CVS Health's dividend payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Barclays lifted their price objective on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Robert W. Baird lifted their price target on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.83.

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.

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