CVS Health Co. (NYSE:CVS) Shares Purchased by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. increased its stake in CVS Health Co. (NYSE:CVS - Free Report) by 123.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,243 shares of the pharmacy operator's stock after acquiring an additional 248,000 shares during the period. Factory Mutual Insurance Co.'s holdings in CVS Health were worth $30,436,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CVS Health in the fourth quarter valued at approximately $839,574,000. Capital World Investors raised its position in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after buying an additional 11,018,438 shares during the period. Dodge & Cox grew its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 0.0%

Shares of CVS Health stock traded down $0.03 during mid-day trading on Monday, hitting $67.43. The stock had a trading volume of 1,947,634 shares, compared to its average volume of 10,943,174. The firm has a 50-day moving average of $65.15 and a two-hundred day moving average of $60.15. The firm has a market cap of $85.30 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. 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 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now directly owns 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVS. Robert W. Baird boosted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Royal Bank of Canada increased their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Mizuho raised their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Two equities 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Company 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.