Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Holdings in CVS Health Co. (NYSE:CVS)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in CVS Health Co. (NYSE:CVS) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,519 shares of the pharmacy operator’s stock after selling 15,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CVS Health were worth $13,625,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC raised its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the 3rd quarter worth about $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter valued at about $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CVS. Truist Financial lifted their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Stock Down 2.6 %

Shares of CVS Health stock opened at $63.42 on Monday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market cap of $79.95 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth 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. The company has a fifty day moving average price of $52.39 and a 200 day moving average price of $56.20.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. CVS Health’s payout ratio is currently 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.