Fjarde AP Fonden Fourth Swedish National Pension Fund Has $11.71 Million Stake in CVS Health Corporation $CVS

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in CVS Health Corporation by 43.1% in the first quarter, selling 130,700 shares and holding 172,819 shares valued at approximately $11.7 million.
• CVS Health reported earnings of $1.81 per share, exceeding analysts' expectations, with revenue of $98.92 billion in the recent quarter, marking an 8.4% year-over-year increase.
• The company announced a quarterly dividend of $0.665 per share, which represents an annualized yield of 4.0% with a payout ratio of 74.30%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 43.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,819 shares of the pharmacy operator's stock after selling 130,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in CVS Health were worth $11,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Whitebox Advisors LLC acquired a new position in CVS Health during the fourth quarter worth approximately $249,000. Jennison Associates LLC increased its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its position in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health during the fourth quarter worth approximately $121,742,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVS. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Royal Bank Of Canada raised their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Bernstein Bank decreased their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $76.67.

CVS Health Stock Performance

CVS stock traded up $0.7010 during mid-day trading on Tuesday, reaching $70.8710. 3,124,087 shares of the stock traded hands, compared to its average volume of 9,889,539. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The business has a 50-day moving average of $65.09 and a two-hundred day moving average of $64.82. The firm has a market capitalization of $89.89 billion, a PE ratio of 19.79, a P/E/G ratio of 0.76 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is 74.30%.

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.