State of Alaska Department of Revenue Buys 4,225 Shares of CVS Health Corporation (NYSE:CVS)

State of Alaska Department of Revenue lifted its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 181,693 shares of the pharmacy operator’s stock after acquiring an additional 4,225 shares during the period. State of Alaska Department of Revenue’s holdings in CVS Health were worth $12,309,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVS. Norges Bank bought a new stake in CVS Health in the fourth quarter worth $839,574,000. Capital World Investors increased its position in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after buying an additional 11,018,438 shares during the period. Dodge & Cox increased its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Robert W. Baird raised their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. UBS Group raised their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Truist Financial increased their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

CVS Health Stock Down 0.3%

Shares of CVS Health stock opened at $66.91 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a market cap of $84.64 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56. The company’s 50 day moving average is $65.02 and its 200 day moving average is $60.30.

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

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.