Allstate Corp Has $332,000 Holdings in CVS Health Co. (NYSE:CVS)

Allstate Corp lifted its holdings in CVS Health Co. (NYSE:CVS) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,207 shares of the pharmacy operator’s stock after purchasing an additional 493 shares during the period. Allstate Corp’s holdings in CVS Health were worth $332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in CVS Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock worth $8,180,295,000 after acquiring an additional 485,744 shares during the last quarter. FMR LLC lifted its position in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Northern Trust Corp lifted its position in CVS Health by 2.2% during the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after acquiring an additional 305,564 shares during the last quarter. Royal Bank of Canada lifted its position in CVS Health by 2.2% during the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after acquiring an additional 303,512 shares during the last quarter. Finally, Norges Bank acquired a new position in CVS Health during the 4th quarter worth $1,092,040,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. Cantor Fitzgerald lowered shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $58.00 in a research report on Wednesday, May 1st. Barclays cut their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Argus cut their price objective on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company cut their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Finally, The Goldman Sachs Group cut their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.75.

CVS Health Price Performance

Shares of CVS traded up $0.45 during mid-day trading on Friday, hitting $56.10. 4,606,587 shares of the company traded hands, compared to its average volume of 11,934,208. The business has a 50-day moving average of $67.57 and a 200 day moving average of $72.02. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $70.43 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.55 and a beta of 0.56. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.