Handelsbanken Fonder AB Purchases 20,955 Shares of CVS Health Co. (NYSE:CVS)

Handelsbanken Fonder AB raised its holdings in CVS Health Co. (NYSE:CVS) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 603,225 shares of the pharmacy operator’s stock after purchasing an additional 20,955 shares during the quarter. Handelsbanken Fonder AB’s holdings in CVS Health were worth $27,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC boosted its stake in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after acquiring an additional 2,371,563 shares during the last quarter. State Street Corp boosted its stake in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP acquired a new position in CVS Health during the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Barclays boosted their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Performance

Shares of CVS stock opened at $65.20 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a 50 day moving average of $52.11 and a 200-day moving average of $56.18. The company has a market cap of $82.21 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that CVS Health Co. will post 5.91 earnings per share for the current year.

CVS Health Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.08%. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed 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.