CVS Health Co. (NYSE:CVS) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System raised its stake in shares of CVS Health Co. (NYSE:CVS) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,584,177 shares of the pharmacy operator’s stock after buying an additional 354,700 shares during the quarter. CVS Health comprises about 0.8% of State of Michigan Retirement System’s investment portfolio, making the stock its 18th biggest position. State of Michigan Retirement System’s holdings in CVS Health were worth $160,894,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CVS. State Street Corp lifted its stake in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. Geode Capital Management LLC lifted its stake in shares of CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC lifted its stake in shares of 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 purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after purchasing an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Stock Down 1.4 %

Shares of NYSE CVS opened at $64.82 on Tuesday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a market cap of $81.72 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $54.74 and a 200 day moving average price of $56.53.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.10%. CVS Health’s dividend payout ratio is presently 72.68%.

CVS Health 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.