Illinois Municipal Retirement Fund Sells 16,512 Shares of CVS Health Co. (NYSE:CVS)

Illinois Municipal Retirement Fund lessened its position in CVS Health Co. (NYSE:CVS) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,106 shares of the pharmacy operator’s stock after selling 16,512 shares during the period. Illinois Municipal Retirement Fund’s holdings in CVS Health were worth $13,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter worth about $32,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Barclays lifted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four investment 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 company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

Shares of NYSE:CVS opened at $63.65 on Wednesday. The firm has a 50 day moving average of $53.11 and a 200-day moving average of $56.29. The stock has a market capitalization of $80.24 billion, a PE ratio of 17.39, a PEG ratio of 0.98 and a beta of 0.61. 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 Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is 72.68%.

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.