Mutual of America Capital Management LLC Lowers Stock Position in CVS Health Corporation (NYSE:CVS)

Mutual of America Capital Management LLC lessened its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,939 shares of the pharmacy operator's stock after selling 4,145 shares during the period. Mutual of America Capital Management LLC's holdings in CVS Health were worth $9,955,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of CVS Health by 2.0% in the 1st quarter. Arizona State Retirement System now owns 369,308 shares of the pharmacy operator's stock valued at $25,021,000 after purchasing an additional 7,354 shares during the period. Kathmere Capital Management LLC acquired a new position in shares of CVS Health in the 1st quarter valued at $269,000. Ballentine Partners LLC lifted its stake in shares of CVS Health by 55.4% in the 1st quarter. Ballentine Partners LLC now owns 8,257 shares of the pharmacy operator's stock valued at $559,000 after purchasing an additional 2,943 shares during the period. Callahan Advisors LLC lifted its stake in shares of CVS Health by 10.7% in the 1st quarter. Callahan Advisors LLC now owns 32,365 shares of the pharmacy operator's stock valued at $2,193,000 after purchasing an additional 3,117 shares during the period. Finally, Fidelis Capital Partners LLC lifted its stake in shares of CVS Health by 118.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 13,686 shares of the pharmacy operator's stock valued at $894,000 after purchasing an additional 7,410 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Trading Down 0.5%

Shares of CVS traded down $0.35 during mid-day trading on Tuesday, reaching $64.01. The stock had a trading volume of 5,954,658 shares, compared to its average volume of 10,789,719. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The business's fifty day moving average is $64.99 and its 200 day moving average is $62.61. The firm has a market cap of $80.97 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.92 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Jefferies Financial Group upped their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $75.06.

Insiders Place Their Bets

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is currently owned by company insiders.

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.