Mutual of America Capital Management LLC Has $9.96 Million Stake in CVS Health Corporation (NYSE:CVS)

Mutual of America Capital Management LLC reduced its position in shares of CVS Health Corporation (NYSE:CVS) by 2.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 146,939 shares of the pharmacy operator’s stock after selling 4,145 shares during the period. Mutual of America Capital Management LLC’s holdings in CVS Health were worth $9,955,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dodge & Cox raised its position in 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. Capital World Investors grew its stake in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after purchasing an additional 689,867 shares during the period. Capital International Investors lifted its position in shares of CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $839,574,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Down 1.4%

Shares of CVS Health stock opened at $64.73 on Monday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average price of $65.05 and a two-hundred day moving average price of $62.47. The stock has a market capitalization of $81.88 billion, a P/E ratio of 15.45, a PEG ratio of 0.93 and a beta of 0.57.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during 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%. CVS Health’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.11%. CVS Health’s payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVS shares. Mizuho increased their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Wells Fargo & Company reissued an “overweight” rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $75.06.

About CVS Health

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.