Alaska Permanent Fund Corp Purchases 449 Shares of CVS Health Co. (NYSE:CVS)

Alaska Permanent Fund Corp increased its position in CVS Health Co. (NYSE:CVS) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,949 shares of the pharmacy operator’s stock after purchasing an additional 449 shares during the quarter. Alaska Permanent Fund Corp’s holdings in CVS Health were worth $2,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CVS. FMR LLC raised its holdings in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. International Assets Investment Management LLC raised its holdings in CVS Health by 8,697.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after acquiring an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board raised its holdings in CVS Health by 49.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after acquiring an additional 698,054 shares during the period. Pacer Advisors Inc. raised its holdings in CVS Health by 12.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after acquiring an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in CVS Health in the 3rd quarter valued at about $34,379,000. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 1.0 %

Shares of CVS stock traded down $0.66 during trading hours on Thursday, hitting $67.11. 1,979,789 shares of the company’s stock traded hands, compared to its average volume of 10,616,609. The stock’s 50 day simple moving average is $74.80 and its 200 day simple moving average is $73.72. The stock has a market cap of $84.59 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.99 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Analyst Ratings Changes

A number of research analysts have issued reports on CVS shares. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Wells Fargo & Company decreased their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Royal Bank of Canada reduced their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, SVB Leerink initiated coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by insiders.

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.