Virginia Retirement Systems ET AL held its stake in CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 332,772 shares of the pharmacy operator’s stock at the close of the second quarter. Virginia Retirement Systems ET AL’s holdings in CVS Health Corporation were worth $26,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Keel Point LLC increased its stake in shares of CVS Health Corporation by 0.7% during the first quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after purchasing an additional 22 shares in the last quarter. First City Capital Management Inc. increased its stake in shares of CVS Health Corporation by 0.3% during the first quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock valued at $1,003,000 after purchasing an additional 40 shares in the last quarter. Elefante Mark B increased its stake in shares of CVS Health Corporation by 0.7% during the second quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock valued at $515,000 after purchasing an additional 45 shares in the last quarter. Traynor Capital Management Inc. increased its stake in shares of CVS Health Corporation by 1.3% during the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after purchasing an additional 48 shares in the last quarter. Finally, Norway Savings Bank increased its stake in shares of CVS Health Corporation by 0.3% during the second quarter. Norway Savings Bank now owns 17,014 shares of the pharmacy operator’s stock valued at $1,368,000 after purchasing an additional 50 shares in the last quarter. 81.64% of the stock is owned by institutional investors and hedge funds.

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A number of equities analysts have weighed in on CVS shares. BidaskClub downgraded shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Loop Capital started coverage on shares of CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 target price for the company. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $95.00 target price on shares of CVS Health Corporation in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. CVS Health Corporation has a consensus rating of “Buy” and a consensus price target of $87.98.

Shares of CVS Health Corporation (CVS) opened at 68.45 on Tuesday. The firm has a 50-day moving average of $77.83 and a 200-day moving average of $78.52. CVS Health Corporation has a 52-week low of $68.01 and a 52-week high of $85.49. The company has a market cap of $69.58 billion, a P/E ratio of 13.64 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. CVS Health Corporation’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 EPS. Equities research analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.92%. CVS Health Corporation’s payout ratio is currently 39.92%.

In other news, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now owns 299,255 shares in the company, valued at $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock worth $58,318,431 in the last quarter. Company insiders own 0.61% of the company’s stock.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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