CVS Health Corporation (NYSE:CVS) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,308 shares of the pharmacy operator's stock after purchasing an additional 7,354 shares during the quarter. Arizona State Retirement System's holdings in CVS Health were worth $25,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in CVS Health in the 4th quarter valued at approximately $43,000. PARK CIRCLE Co boosted its holdings in CVS Health by 42.9% in the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in CVS Health by 77.2% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 446 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new stake in CVS Health in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 1.4%

NYSE:CVS traded down $0.89 during mid-day trading on Friday, reaching $64.73. The stock had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The company has a market capitalization of $81.88 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The stock's 50 day simple moving average is $65.05 and its two-hundred day simple moving average is $62.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.11%. CVS Health's payout ratio is currently 63.48%.

Insider Buying and Selling

In related news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barclays set a $79.00 price target on CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Finally, Robert W. Baird boosted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.06.

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.