CVS Health Co. (NYSE:CVS) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 303,519 shares of the pharmacy operator’s stock after selling 15,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CVS Health were worth $13,625,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at about $25,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health in the third quarter worth $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Trading Down 2.6 %

CVS Health stock opened at $63.42 on Monday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The stock has a market capitalization of $79.95 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The firm has a 50 day simple moving average of $52.39 and a 200-day simple moving average of $56.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

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.