State of Alaska Department of Revenue Trims Stake in CVS Health Corp (NYSE:CVS)

State of Alaska Department of Revenue reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 33.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,339 shares of the pharmacy operator’s stock after selling 114,426 shares during the quarter. State of Alaska Department of Revenue’s holdings in CVS Health were worth $14,590,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC grew its holdings in CVS Health by 0.8% in the second quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock valued at $1,125,000 after purchasing an additional 172 shares during the period. Fiduciary Group LLC boosted its stake in shares of CVS Health by 3.2% in the second quarter. Fiduciary Group LLC now owns 6,485 shares of the pharmacy operator’s stock worth $353,000 after acquiring an additional 200 shares during the last quarter. First Command Financial Services Inc. boosted its stake in shares of CVS Health by 16.0% in the second quarter. First Command Financial Services Inc. now owns 1,464 shares of the pharmacy operator’s stock worth $80,000 after acquiring an additional 202 shares during the last quarter. Hudock Capital Group LLC boosted its stake in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares during the last quarter. Finally, Rikoon Group LLC boosted its stake in shares of CVS Health by 1.9% in the second quarter. Rikoon Group LLC now owns 10,743 shares of the pharmacy operator’s stock worth $585,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 75.91% of the company’s stock.

A number of analysts have recently issued reports on the company. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Evercore ISI set a $63.00 price target on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Morgan Stanley lifted their price target on CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Bank of America boosted their price objective on CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $75.39.

In related news, EVP Joshua Matthew Flum sold 17,703 shares of CVS Health stock in a transaction on Monday, September 30th. The shares were sold at an average price of $63.00, for a total value of $1,115,289.00. Following the sale, the executive vice president now owns 36,163 shares in the company, valued at $2,278,269. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the sale, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

CVS traded up $0.82 on Friday, hitting $62.04. 2,201,998 shares of the company were exchanged, compared to its average volume of 6,792,207. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The company has a market cap of $81.09 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.36 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $61.91 and a two-hundred day moving average price of $56.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. Equities analysts expect that CVS Health Corp will post 6.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.22%. CVS Health’s dividend payout ratio is 28.25%.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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