State of Alaska Department of Revenue Reduces Stock Position in CVS Health Corporation $CVS

State of Alaska Department of Revenue reduced its position in shares of CVS Health Corporation (NYSE:CVS) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,139 shares of the pharmacy operator’s stock after selling 7,159 shares during the period. State of Alaska Department of Revenue’s holdings in CVS Health were worth $12,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Harbor Capital Advisors Inc. lifted its holdings in CVS Health by 72.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock worth $26,000 after buying an additional 142 shares during the period. Avion Wealth raised its holdings in shares of CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in CVS Health in the second quarter worth $30,000. Front Row Advisors LLC boosted its holdings in CVS Health by 436.5% in the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 371 shares in the last quarter. Finally, Roxbury Financial LLC raised its holdings in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $80.29 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The stock has a market cap of $101.92 billion, a P/E ratio of 211.29, a P/E/G ratio of 0.74 and a beta of 0.48. The business’s 50 day moving average price is $78.70 and its 200-day moving average price is $73.83. CVS Health Corporation has a 52 week low of $46.34 and a 52 week high of $85.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The business had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, January 22nd. CVS Health’s dividend payout ratio is 700.00%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Leerink Partners lifted their target price on shares of CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Wall Street Zen cut CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. increased their target price on CVS Health from $93.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Robert W. Baird lifted their price target on CVS Health from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Raymond James Financial upped their price target on CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $94.86.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over?the?counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in?store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk?in medical clinics and HealthHUB locations that offer expanded clinical services.