AMF Tjanstepension AB Grows Stake in CVS Health Co. (NYSE:CVS)

AMF Tjanstepension AB increased its stake in CVS Health Co. (NYSE:CVS) by 542.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,512 shares of the pharmacy operator’s stock after acquiring an additional 334,768 shares during the period. AMF Tjanstepension AB’s holdings in CVS Health were worth $17,799,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVS. Principal Financial Group Inc. boosted its position in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Hara Capital LLC purchased a new position in shares of CVS Health during the third quarter valued at approximately $68,000. Keynote Financial Services LLC boosted its position in shares of CVS Health by 13.3% during the third quarter. Keynote Financial Services LLC now owns 28,351 shares of the pharmacy operator’s stock valued at $1,783,000 after buying an additional 3,320 shares during the period. Portside Wealth Group LLC boosted its position in shares of CVS Health by 8.9% during the third quarter. Portside Wealth Group LLC now owns 28,266 shares of the pharmacy operator’s stock valued at $1,777,000 after buying an additional 2,309 shares during the period. Finally, Sittner & Nelson LLC boosted its position in shares of CVS Health by 152.4% during the third quarter. Sittner & Nelson LLC now owns 1,918 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 1,158 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $66.34 on Friday. The firm’s fifty day simple moving average is $56.42 and its two-hundred day simple moving average is $56.76. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market capitalization of $83.64 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $69.83.

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.