State of New Jersey Common Pension Fund D Reduces Position in CVS Health Co. (NYSE:CVS)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 462,710 shares of the pharmacy operator’s stock after selling 1,533 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CVS Health were worth $20,771,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AMF Tjanstepension AB increased its holdings in CVS Health by 124.1% in the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock valued at $3,882,000 after buying an additional 34,198 shares during the last quarter. Creative Planning boosted its position in shares of CVS Health by 23.5% during the third quarter. Creative Planning now owns 250,891 shares of the pharmacy operator’s stock worth $15,776,000 after buying an additional 47,737 shares during the period. nVerses Capital LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $101,000. Blue Trust Inc. boosted its position in shares of CVS Health by 6.2% during the third quarter. Blue Trust Inc. now owns 9,673 shares of the pharmacy operator’s stock worth $571,000 after buying an additional 562 shares during the period. Finally, Vest Financial LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $512,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Four 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. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Down 1.0 %

Shares of CVS opened at $65.71 on Tuesday. The company has a 50-day simple moving average of $51.11 and a 200-day simple moving average of $55.99. The firm has a market capitalization of $82.84 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. On average, equities research analysts expect that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.