CVS Health Corp (NYSE:CVS) Stock Position Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in shares of CVS Health Corp (NYSE:CVS) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000,800 shares of the pharmacy operator’s stock after selling 159,200 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of CVS Health worth $63,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CVS. Baldwin Brothers Inc. MA lifted its stake in shares of CVS Health by 1.1% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 14,911 shares of the pharmacy operator’s stock worth $941,000 after acquiring an additional 165 shares during the period. Mutual Advisors LLC lifted its stake in shares of CVS Health by 0.8% in the 2nd quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock worth $1,125,000 after acquiring an additional 172 shares during the period. Fiduciary Group LLC lifted its stake in shares of CVS Health by 3.2% in the 2nd 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 period. Legacy Advisors LLC lifted its stake in shares of CVS Health by 2.5% in the 3rd quarter. Legacy Advisors LLC now owns 8,048 shares of the pharmacy operator’s stock worth $508,000 after acquiring an additional 200 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC lifted its stake in shares of CVS Health by 1.5% in the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,255 shares of the pharmacy operator’s stock worth $824,000 after acquiring an additional 201 shares during the period. 76.12% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction that occurred 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 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 owned by insiders.

CVS stock traded down $0.66 on Thursday, hitting $64.94. 3,661,702 shares of the company’s stock traded hands, compared to its average volume of 6,193,513. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15. The stock has a market cap of $86.56 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.45 and a beta of 0.86. The stock has a fifty day moving average of $63.27 and a 200-day moving average of $57.42. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The firm’s revenue was up 35.2% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Corp will post 6.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. CVS Health’s dividend payout ratio is currently 28.25%.

A number of brokerages have recently weighed in on CVS. Morgan Stanley upped their price target on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Evercore ISI set a $63.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Bank of America increased their target price on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Citigroup increased their target price on shares of CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.39.

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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