Retirement Systems of Alabama Purchases 514 Shares of CVS Health Corporation $CVS

Retirement Systems of Alabama raised its position in shares of CVS Health Corporation (NYSE:CVS) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 271,446 shares of the pharmacy operator’s stock after acquiring an additional 514 shares during the quarter. Retirement Systems of Alabama’s holdings in CVS Health were worth $18,724,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after purchasing an additional 6,615 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after purchasing an additional 572,533 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.22% of the company’s stock.

CVS Health Trading Up 1.9%

NYSE:CVS opened at $78.13 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a market cap of $99.09 billion, a PE ratio of 205.61, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a 50 day simple moving average of $76.49 and a two-hundred day simple moving average of $69.04.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s payout ratio is 74.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVS shares. Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays boosted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Wolfe Research boosted their price objective on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.33.

About CVS Health

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.