Public Employees Retirement System of Ohio Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Public Employees Retirement System of Ohio trimmed its position in CVS Health Co. (NYSE:CVS - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 614,924 shares of the pharmacy operator's stock after selling 20,872 shares during the period. Public Employees Retirement System of Ohio's holdings in CVS Health were worth $27,604,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Vega Investment Solutions bought a new position in shares of CVS Health in the 4th quarter valued at $359,000. Vise Technologies Inc. lifted its stake in shares of CVS Health by 23.4% in the 4th quarter. Vise Technologies Inc. now owns 11,703 shares of the pharmacy operator's stock valued at $525,000 after acquiring an additional 2,219 shares during the last quarter. DCM Advisors LLC lifted its stake in shares of CVS Health by 15.5% in the 4th quarter. DCM Advisors LLC now owns 81,530 shares of the pharmacy operator's stock valued at $3,435,000 after acquiring an additional 10,920 shares during the last quarter. Orion Capital Management LLC acquired a new stake in CVS Health in the fourth quarter valued at $54,000. Finally, McIlrath & Eck LLC increased its holdings in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Mizuho increased their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Finally, Barclays increased their price objective on CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

CVS Health Stock Up 1.7%

CVS Health stock traded up $1.06 during midday trading on Wednesday, reaching $62.40. The stock had a trading volume of 9,150,373 shares, compared to its average volume of 11,305,273. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a market capitalization of $78.94 billion, a P/E ratio of 17.05, a PEG ratio of 0.98 and a beta of 0.60. The company has a fifty day moving average price of $65.86 and a two-hundred day moving average price of $59.46. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the previous year, the company posted $1.31 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.26%. CVS Health's payout ratio is presently 63.48%.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company's stock.

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.